Los Angeles, CA—“What can I say? I live banker rich,” explains Corey Kavanaugh, a 22 year out of work Best Buy employee as he watches a 120” LCD HDTV in his mother’s basement, blaring Westside Connection. He has no income, no savings, but a closet full of limited edition Bathing Apes and over $300k worth of electronics.

This new phrase, “banker rich,” used to describe those living ostentatiously yet in massive debt, is sweeping the nation, replacing a much more racially charged term which was once meant to convey a similar sentiment. The new idiom, however, is intended for even more blatant disregard for sensible budgeting, a tribute to Wall Street’s extreme abuse of leverage. The $700Bn bailout figure, it seems, has served as an inspiration for others.

“I wake up, and I say to myself: I’m gonna try to spend at least three to four hundred times what I actually should today,” Corey explains. “I make $8.25/hour and just spent $12k on this belt,” and he grips an Anthony Kim-esque buckle, seemingly unconcerned about his financial situation. “I don’t even like this thing,” he adds, realizing his initials aren’t A.K.

But why the need for such excess? “I just gotta stay fly,” Corey clarifies, eloquently articulating the mentality that caused this crisis on both ends.

Not surprisingly, response to the new expression has been largely positive: most bankers find it flattering, and the African-American community is pleased to have a racially offensive phrase erased from the mainstream vernacular.

Lucinda James was elated when she heard her 8 year old son use “banker rich” to mock a homeless man whose Escalade just got repossessed. She was thankful: “I’m just really glad there’s another group of people out there even less responsible with money than we are.”