- carpetbagger
- carpetbagger car‧pet‧bag‧ger [ˈkɑːptˌbægə ǁ ˈkɑːrptˌbægər] noun [countable] informal disapproving1. FINANCE an investor who puts their money into a life insurance or a building hoping that it will demutualize (= become a company with shares) and that they will get a windfall (= money paid to members if they agree to the change):
• It has opened eight times the normal number of accounts, partly because of activity from carpetbaggers.
— carpetbagging noun [uncountable] :• carpetbagging which brought record cash inflows
2. a politician who is active in an area that is not their home because they think they have more chance of being successful there than at home:• Some branded them carpetbaggers for the long period they had spent in exile abroad.
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carpetbagger UK US /ˈkɑːpɪtˌbæɡər/ noun [C]► US DISAPPROVING POLITICS a politician who runs for election in a place where he or she does not live or has only lived for a short time: »People do not want interference from here today, gone tomorrow, political carpetbaggers.
► UK DISAPPROVING BANKING a person who joins a mutual organization (= one that is owned by its members rather than by shareholders) hoping that it will become a company with shares and pay its members to agree: »The building society is finalizing its defence against carpetbaggers who have forced a demutualization vote.
Financial and business terms. 2012.