Sorry, but my BS sensor kind of started sending out signals when I read that. It sounds a bit contrived. How many times a week would you have to describe a yokel from a small college in order for the so-called slang term to be cast in bronze such that the author would feature it in a book as a set phrase? What, the hick grads were descending on Wall Street?
Then there’s the number of elements to the term, namely three. 1. Schlepp. 2. Podunk. 3. ______ U. Most really catchy slang terms are sparse.
Then there’s the combination of Yiddish and downhome American. Quite possible on Wall Street, but again, is it really that memorable?
Then there’s the fact that a whole lot of these phrases are a staple of the book and maybe even its selling point. The wikipedia article has a few examples.
Yeah, I’d say the BS factor is pretty high. it is certainly a phrase that could be used by anyone with the requisite background, but it just has the earmarks of something made up on the spot. Books with the supposed inside track on slang have been around for a long time.
Now, Bumfuck, Iowa, there’s a slang term for you.