Just Something To Think About

Author:
Publish date:

Call it Anglocreep. Call it annoying. Snippets of British vernacular that were until recently as rare as steak and kidney pie on these shores are cropping up in the daily speech of Americans (particularly, New Yorkers) of the taste-making set who often have no more direct tie to Britain than an affinity for “Downton Abbey.” This star-spangled burst of Anglophonia has “established itself as this linguistic phenomenon that shows no sign of abating,” said Ben Yagoda, a professor of English at the University of Delaware. “The 21st-century ‘chattering classes’ — which is itself a Britishism — are the most significant perpetrators of this trend,” he added...“I’m getting sick of my investment banking clients saying ‘cheers’ to me,” said Euan Rellie, a socially prominent British-born finance executive in New York. [NYT]

Related

Fitch Has Something To Say About Fudgie

"Manageable" but "raises questions." Fitch Ratings has downgraded JPMorgan Chase & Co.'s (JPM) Long-term Issuer Default Rating (IDR) to 'A+' from 'AA-' and its Short-term IDR to 'F1' from 'F1+'. Fitch has placed all parent and subsidiary long-term ratings on Rating Watch Negative. Fitch has also downgraded JPM's viability rating (VR) to 'a+' from 'aa-' and placed it on Rating Watch Negative. In addition, Fitch affirmed JPM's '1' support rating and 'A' support rating floor. The rating actions follow JPM's disclosure yesterday of a $2 billion trading loss on its synthetic credit positions in its Chief Investment Office (CIO). The positions were intended to hedge JPM's overall credit exposure, particularly during periods of credit stress. Fitch views the size of loss as manageable. That said, the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity. It also raises questions regarding JPM's risk appetite, risk management framework, practices and oversight; all key credit factors. Fitch believes the potential reputational risk and risk governance issues raised at JPM are no longer consistent with an 'AA-' rating. Fitch Cuts JPMorgan Ratings [Reuters]