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The Atlantis Variation: Difference between revisions
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{{a|myth|{{image|mezztranches|png|''I Watched Mezzanine Tranches Glitter In The Dark'', {{vsr|2009}}}}}}The [[2008 ISDA Master Agreement]], also known (after | {{a|myth|{{image|mezztranches|png|''I Watched Mezzanine Tranches Glitter In The Dark'', {{vsr|2009}}}}}}The [[2008 ISDA Master Agreement]], also known (after [[Hunter Barkley]]’s novella of the same name) as the “[[Atlantis Variation]]”, is an apocryphal edition of the {{isdama}} that, according to the story, was ''almost'' completed in 2008, and was only prevented by the near total financial destruction of the planet in September of that year. It never saw the light of day, instead collapsing into a form of dark tedium that powers the universe. | ||
According to Barkley’s dystopian vision, the {{2008ma}} was to be short, plainly worded, future-proofed and agile. It would | According to Barkley’s dystopian vision, the {{2008ma}} was to be short, plainly worded, future-proofed and agile. It would allow counterparties to agree robust trading terms with little fuss and only the cursory clerical management that could be [[legal service delivery|delivered]] through unskilled personnel in low-cost jurisdictions and, eventually, robots. It promised to be the long-lost missing use-case for [[distributed ledger technology]], and would be negotiated “[[Blockchain|on-chain]]” between arrays of dematerialised [[large language model]]s housed, for the sense of theatre, [[Proverbial school-leaver from Bucharest|in a single giant data centre in the outskirts of Bucharest]]. | ||
Had it been implemented, | Had it been implemented, the ’08 would have addressed the financial, infrastructural and regulatory challenges which went on to dog the financial derivatives market in the early 21st century, and would eventually bring near catastrophe upon the peaceable communities of swapsfolk who had made their home nestling in nooks and crannies in the verdant, rolling countryside of {{aies}}. While these hobbity little creatures romped wealthily about in sun drenched meadows, the ’08 would have silently, effectively consolidated all documentation across a wide range of products and asset classes ([[including but not limited to]] [[repo]], [[stock lending]], [[prime brokerage]], [[exchange traded derivatives]], [[commodities]] and [[emissions]]), finally moving the financial world into a stable state: a [[sunlit utopia]] in which all risks are known, all eventualities experienced and contingencies accounted for. | ||
''[[Risk]]'' would finally be banished for ever. | ''[[Risk]]'' would finally be banished for ever. | ||
As it was, the challenge was just too big. The project expanded — at first gradually; in the closing stages at breakneck pace — and in the final days exceeded its [[Schwarzschild radius of document comprehension|Schwarzschild radius]] altogether. There was a sudden, catastrophic implosion, and everything associated with the project — all traces of the agreement, drafts, the firm {{ISDA}} engaged to coordinate the drafting (a cyber law firm that | As it was, the challenge was just too big. The project expanded — at first gradually; in the closing stages at breakneck pace — and in the final days exceeded its [[Schwarzschild radius of document comprehension|Schwarzschild radius]] altogether. There was a sudden, catastrophic implosion, and everything associated with the project — all traces of the agreement, drafts, the firm {{ISDA}} engaged to coordinate the drafting (a cyber law firm that spontaneously came into existence when a document management system in the firm [[Tubb Fuller Breaden Potter Bacon]] became self-aware and eliminated all the carbon-based lawyers)<ref>[[TFBPB]] has never been heard of since, and curiously, no record now exists of this firm before 2008, even though it was apparently a global behemoth.</ref> and several thousand members of ISDA’s document working group, seconded by their employers to contributing their “clarifications” and [[For the avoidance of doubt|doubt-avoidances]] for the greater good of the standard form simply vanished. | ||
All — the document, the personnel, the drafting miscellanea and terabytes of [[Tedium|tedia]] — are now lost to history. We now do not know what the agreement said, how it said it, or indeed whether the agreement really existed at all. And the robots — | All — the document, the personnel, the drafting miscellanea and terabytes of [[Tedium|tedia]] — are now lost to history. We now do not know what the agreement said, how it said it, or indeed whether the agreement really existed at all. And the robots — | ||