A bankogenic recession is a recession caused by bankers being reckless and making mistakes.
The phrase was first coined by London Mayor Boris Johnson in an interview with The Times newspaper (UK) on 6th December 2008.
In The Times inteview Boris Johnson said. “I’m a friend of the bankers but do not forget this is a bankogenic recession. It wasn’t produced by some oil shock, it was produced by a crisis in the financial services industry.”
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. Penguin Books,1992. p. 38)