rehypothecate

I’ve written before about my frustration with zombie language in the business world, but while lazy writing and metaphor-use frustrates the hell out of me, I get a not-entirely-wholesome thrill from jargon.  Right now I’m reading up on the financial crisis, and I keep coming across little gems.  Two of my new favorites:

• novate – to take another party’s place in a trade or deal
• rehypothecate – I have only the sketchiest of ideas what this means, but it’s SUCH A COOL WORD.  Sounds like the name of a Star Destroyer – The Rehypothecator.  I think it has something to do with loaning based on a deposit – Abe gives me five bucks to hold for him, and in turn I loan those five to Becky at 10% interest, & when Abe wants his money back one period later I make a nice profit.  I’ve ‘rehypothecated’ Abe’s $5.

Don’t words like these just make you shiver?  They’re like something a wizard would say while rooting around in his workshop.  “We must novate your contract with this demon…”

No?

Just me, then.