October 6, 2008
Will Financial Naming Endure?
Newsweek is wondering what exactly will become of the American brand now that the financial system is under such stress.
More specifically, there is room to ponder what will become of the Wall Street brand name, which now seems synonymous with greed and mismanagement.
Although, there is no real sense in losing sleep over whether or not the Wall Street name will weather the storm. It has always been the name that people love to hate.
Yes, there has been a lot of trust lost between Wall Street and the American people which has led to some frightening closings to many established bank brands, but do we really think that Wall Street will reinvent itself in the next few months as something other than a place where you can win big and lose big, a place where "greed is good?"
The more interesting naming news related to this issue is the press suggesting we banish the word bailout when talking about the Rescue Package.
Salon magazine reminds us to call it a "Rescue Plan," following the trend we wrote about on Friday.
Rescue Package or Rescue Plan makes the whole bailout bill (the term will not die) seem all the more necessary and makes those who sign it look like rescuers rather than bailers, or even worse, bailer-outers.
This may be the case, but as we suggested in our last post: Bailout bill name change or not, we all appear to be in need of a financial rescue.
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