Gee, if I didn't know better, I would guess that's another one of those dumb "Damn Yankee" euphemisms that I find to be so counter-productive. Now that it's been over a century since that word has had any real relevance, perhaps it's time to join the modern world and let crap like that go. It just distracts from any kind of point you're actually trying to make.
By the way: "Carpetbagger" is one word. :-)
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