Goldman-Speak for “Mug”
Too-big-to-fail firms have become loss transmitters and accelerators to the rest of the system.
–“An Ex-Goldman Partner Lets Loose on Wall Street“; Time (2/2/2010).
Hmm . . . “loss transmitter and accelerator??”
By the same logic, I suppose that the recent, devastating Haiti earthquake was “a focused diffusion of geologic energy.”
Or the Hindenburg explosion was a “sudden metamorphosis of volatile gases.”
The Pentagon spending $20 billion on an obsolete weapon is an example of “transmitting and accelerating losses to the rest of the system.”
Saddling U.S. taxpayers with trillions in losses and debt to clean up the financial mess Wall Street just made is something much, much . . . grander — and nefarious.
It’s one thing not to hold Wall Street accountable for its actions.
It’s entirely another to mislabel and minimize what it did, and is continuing to do.
At least the “accelerator” part is right: an accelerant is what arsonists use to quickly spread a fire.