Was it invented here?

Author: | Published: 1 Dec 2009

In the US the acronym NIH is primarily linked to the National Institutes of Health. But it has a darker meaning too. Last week my managing editor and I sat blank faced when a US lawyer in London passed comment on prospective covered bond legislation. "Even if it goes through, it is most likely to suffer from NIH syndrome," he said. NIH? We were at a loss, but soon we were put out of our ignorance: "Not Invented Here."

The term entered the public consciousness in the US...