Wednesday, February 11, 2009

Tranche: My Favorite New Word

My day began with a national law firm's email alert, entitled "Financial markets in Crisis: TARP II -- Treasury's New Financial Stability Plan", which related that "[t]his update summarizes Treasury Secretary Timothy Geithner's announcement regarding the Administration's plans for the second tranche of TARP funds . . .", at which point I stopped reading, I was so mesmerized by the word "tranche."

It is a word altogether fitting of the whole legislative fiasco taking place in Washington. "Tranche" is a word hardly no one uses in ordinary speech and, as a result, hardly no one knows what it means -- altogether fitting for the avalanche of federal spending that the Administration would just as soon no one know where it is going.

And "tranche" if you pronounce the "e" sounds so much like raunchy with a "t", which suggests the word is full of superfluous letters, just like the stimulus bill's hundreds of millions in pork that is not needed and, indeed, counterproductive because the future increase in federal debt and/or taxes to pay for it will crowd private investment out of the market.

"Tranche" also sounds so French, which may make up for the "Buy American" clause in the stimulus legislation that so irked our European friends, causing Obama sheepishly to order its removal.

"Tranche", in fact, sounds like it should be French for trash.

"Tranche" -- an altogether fitting word for what is being doled out these days from Washington.

1 comment:

Cyberhillbilly said...

In defense of Tranches, it is used quite frequently in the world of VC. :)