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 {{a|negotiation|
 [[File:Claudis Blankie.jpg|450px|thumb|center|[[Eye-ess-dee-aye]], yesterday.]]
-}}{{wasteprov|Downgrading}} {{wasteprov|personnel}} is the process of finding a cheaper unit to do the same job. It is mean to save money and avoid the tiresome and messy [[human error]] that otherwise infect the flawless, crystalline system.
+}}{{wasteprov|Downgrading}} {{wasteprov|personnel}} is the process of finding a cheaper person/unit of [[meatware]]/[[chatbot]] to do the same job. It is meant to save money and avoid the tiresome and messy [[human error]] that infect the otherwise flawless, crystalline, money-printing system.
 ===Once upon a time===
-When the [[JC]] was but a stripling clerk, his senior [[partner]] assigned to him the job of reviewing this speculative new contract for an important finance client. This was in about 1995.
+When [[JC|I]] was but a stripling clerk, my supervising [[partner]] assigned me the job of reviewing this speculative new contract for an important finance client. This was in about 1995. It was in Wellington, New Zealand.
-“The client will take potentially massive, long-tenor exposures under this new contract,” said he, knocking his pipe out on the young contrarian’s head. “Potentially ruinous ones. It is our sacred duty to make sure our client is safe! And that means —”
+“Our client [''a high-country sheep farm'']<ref>Okay, it wasn’t ''really'' a sheep farm.</ref> will take potentially massive, long-tenor exposures under this new [[contract]],” said he, knocking his pipe out on my young contrarian head. “Potentially ruinous ones. It is our sacred duty to make sure our client is safe! And that means —”
 The partner’s eyes glittered.
-“Daily [[mark-to-market]] [[variation margin]]?” I offered.<ref>Yes, ''of course'' this is an outrageous lie: I was an [[ISDA ingénue]]; I had not the first clue about [[derivatives]], and certainly nothing so sophisticated as [[credit support]], if it even ''existed'' at the time.</ref>
+“Daily [[mark-to-market]] [[variation margin]]?” I offered.<ref>Yes, ''of course'' this is an outrageous lie: I was an [[ISDA ingénue]]; I had not the first clue about [[derivatives]], and certainly nothing so sophisticated as [[credit support]], if it even ''existed'' at the time, which it didn’t.</ref>
-“No, boy, no!” he shrieked. “No, no, no!”
+“No, boy, ''no''!” he shrieked. “No, no, no!”
 For a moment I was flummoxed, but then I saw in those black eyes the fierce gleam that comes from countenancing vast professional fees, and I understood.
-“Billings!”
+“''Billings''!”
 He held out his hand. In his palm: a red pill and a blue pill.
-I regarded the document, and then the pills. The contract was slim, rendered on crisp onionskin. It had a five-part {{isdaprov|Schedule}} at the back. It was beautiful — ineffable — ''alien'' in its obliqueness. I mouthed its title, printed in block capitals across the front page: “[[Eye-ess-dee-aye]]”.
+I regarded the document, and then the pills. The contract was slim, rendered on crisp onionskin. It had a five-part {{isdaprov|Schedule}}. It was beautiful — ineffable — ''alien'' in its obliqueness. I mouthed its title, printed in block capitals across the front page: “[[Eye-ess-dee-aye]]”.
 Exactly! said he. “A [[sw-æp]] agreement!”
-I flipped the pages. My mind whirred with the other-worldly concepts I beheld: {{isdaprov|Single Agreement}}. {{isdaprov|Merger Without Assumption}}. {{isdaprov|Netting}}. {{isdaprov|Gross-Up}}. {{isdaprov|Default Under Specified Transaction}}. ''What could they all mean?'' It meant nothing to me. I didn’t — ''couldn’t'' — understand. How could I? But II felt it, deep in my fibre. ''I needed to know.''
+I flipped the pages. My mind whirred with the other-worldly concepts I beheld: {{isdaprov|Single Agreement}}. {{isdaprov|Merger Without Assumption}}. {{isdaprov|Netting}}. {{isdaprov|Gross-Up}}. {{isdaprov|Default Under Specified Transaction}}. ''What could they all mean?'' I didn’t — ''couldn’t'' — understand. How could I? But, yet, I felt it, deep in my fibre. ''I needed to know.''
 I took the red pill.