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{{quote|“The term [[security-based swap]] ... does not include an [[agreement]], [[contract]], or [[transaction]] that is based on or references a qualifying foreign futures contract ... on the [[debt securities]] of any one or more of the foreign governments ... provided that such agreement, contract, or transaction satisfies the following conditions: [''there follows an interminable list of conditions'']”<ref>Marvel at the original — which appears to my dim old eyes to be missing a closing bracket, by the way — [https://www.law.cornell.edu/cfr/text/17/240.3a68-5 here].</ref>}} | {{quote|“The term [[security-based swap]] ... does not include an [[agreement]], [[contract]], or [[transaction]] that is based on or references a qualifying foreign futures contract ... on the [[debt securities]] of any one or more of the foreign governments ... provided that such agreement, contract, or transaction satisfies the following conditions: [''there follows an interminable list of conditions'']”<ref>Marvel at the original — which appears to my dim old eyes to be missing a closing bracket, by the way — [https://www.law.cornell.edu/cfr/text/17/240.3a68-5 here].</ref>}} | ||
We are left with the rather unsettling conclusion that anything else in the universe is, or could be, or it is not beyond that question that it could in suitable circumstances be considered as, or [[deemed]] to be, a [[security-based swap]]. A Cornish pasty; an echidna; a map of Tasmania; a motorised rick-shaw: all are, or could be | We are left with the rather unsettling conclusion that anything else in the universe is, or could be, or it is not beyond that question that it could in suitable circumstances be considered as, or [[deemed]] to be, a [[security-based swap]]. A Cornish pasty; an echidna; a map of Tasmania; a motorised rick-shaw: all are, or at any rate could be, “security-based swaps” for whatever purposes might hove into view should you be a regulator empowered by the [[Securities Exchange Act]]. | ||
{{sa}} | {{sa}} | ||
{{ref}} | {{ref}} | ||