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Slate Money

Slate Money: Actionable Idiolect

Slate Money

Slate Podcasts

Investing, Business

4.3988 Ratings

🗓️ 9 August 2014

⏱️ 35 minutes

🧾️ Download transcript

Summary

On this week's episode of Slate Money, Felix Salmon of Fusion, Cathy O'Neil of Columbia University and Slate's Jordan Weissman discuss the use and abuse of jargon in business and finance, regulators demands that financial institutions rewrite their metaphorical "living wills," and the battle over the literal estate of the artist Robert Rauschenberg. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:09.6

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0:23.6

Until 18-plus, T's and C supply, exchange fees and fair usage limits supply. Hello and welcome to Slate Money, the actionable Idiolex episode of our weekly

0:40.6

podcast guiding you through the important business and finance news of the week.

0:45.7

I'm Felix Salmon, a fusion in New York and this week we are going to enter into an arm's length

0:52.3

counterparty relationship with the subject of jargon and financial jargon in particular what it means and what it is doing to us.

1:01.0

Then living wills talking of incomprehensible acronyms, we're going to be talking

1:06.4

about the FDAIC and the GAO and all manner of other weird Washington institutions.

1:13.2

These living wills were supposed to be big banks rather morbid sounding solution

1:18.4

to the too big to fail problem, but regulators are sending them back to the drawing board or perhaps the

1:24.5

estate planning board and then the battle over an actual estate that of the

1:30.2

artist Robert Rauschenberg.

1:33.0

Those trustees get paid millions of dollars.

1:35.4

We will find out a judge has ruled.

1:39.1

And at the end, as usual, we'll do our numbers lightning round.

1:43.4

The ever prepared Kathy O'Neill has a number.

1:47.0

She's head of the lead program for data journalism

1:49.6

at Columbia University and therefore she always has a number in her back pocket Kathy what is your

1:54.0

number? Felix my number is one I like that number. Jordan was your number?

...

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