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Mortgagentsia
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Mortgagentsia is a modern culture word describing a loosely defined group of mortgage company owners, CDO and SIV bond traders, Fannie Mae and Freddie Mac insiders, and investment bankers specializing in the securitization market. The term was created and first used by Steve Curnutte on the Fox News show Studio B with Shepard Smith in July of 2008. "Now I suppose the press is ruled by the mortgagentsia with their own special terminology." Its usage spread to several print media publications within days. The term is a portmanteau of the word 'mortgage' and the word 'intelligentsia'. The context of its usage is usually with a derisive undertone. |
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