Now I know a lot has been said and written about the Grand Mufti’s statement about the Paris massacres – it’s not our fault, it’s your fault (just contextual mind you, although the statement did call them causative factors, which doesn’t sound too contextual too me).
(Remember domestic violence is the fault of victims. Child abuse is the fault of the children. Just contextual.)
But among the unforgivable aspects of that Press Release was the completely incorrect use of the word SECURITISATION.
Here’s a heads up, this has nothing to do with security in the form of police and intelligence agency activity.
Here is what it means:
Securitisation is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities.
Now assuming that the Grand Mufti didn’t actually write the apologia himself, he needs to sack his copywriter. Truly pathetic.