From the world of Bank-Speak : "non-strategic"

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From the Wells-Fargo earnings release they have $64 Billion (with a B) in "non-strategic" loans on their books.

Whats a "non-strategic" loan?
Well, its Wells-Fargo speak for "pick-a-pay" loans.  You know, those notorious loans that Wachovia and World Savings (both of which Wells Fargo acquired) hawked where the borrower could - each month - choose to pay the regular payment, interest only, or an even smaller amount (with the rest getting added to the principal).
Basically a Bullshit loan.

So, to translate, Wells-Fargo has $64 Billion (again, with a B) of Bullshit loans on their books, which are almost certainly not worth squat, but which Wells Fargo, in its infinite wisdom, has decided to call "non-strategic".

Naked Capitalism pretty much wigged out over this too, and came up with a bunch of alternative usages
  • Sorry, your flight is delayed by a “non-strategic” three hours. 
  • I think you should get rid of your “non-strategic drug habit.” 
  • My love handles are “non-strategic.”
Brilliant, no?

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