Circling back to the topic of subprime mortgages, Marginal Revolution’s Alex Tabarrok cleverly notes that credit snobs such as the NY Times’ Gretchen Morgenson and the Houston Chronicle’s Loren Steffy have redefined the definition of loan shark:

Old definition:
A loan shark is a scumbag who charges the poor obscenely high rates of interest.
New definition:
A loan shark is a scumbag who charges the poor obscenely low rates of interest.