Whatever you say looser!loose - Meaning not tight, such as a fit. Think about it being "loose" with it's use of the letter "o" such that there's one extra. It's a little too loose in using those o's.
lose - meaning not first. A loser, if you will. It's not a winner... heck it didn't win, so we took away one of it's o's.
PLEASE let's all try to get the right.
And ridiculous is spelled the way I just did. Jeezus. There's no 'e' in ridiculous. To use an e would be ridiculous. Get it?