82,975
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The Atlantis Variation: Difference between revisions
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While they romped wealthily about their sun-drenched meadows, the ’08 would silently, effectively consolidate 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 [[Utopia|utopian state]] in which all risks are known, all eventualities experienced and contingencies accounted for. ''[[Risk]]'' would finally be banished for ever. | While they romped wealthily about their sun-drenched meadows, the ’08 would silently, effectively consolidate 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 [[Utopia|utopian state]] in which all risks are known, all eventualities experienced and contingencies accounted for. ''[[Risk]]'' would finally be banished for ever. | ||
As it was, the challenge was just too big. As they dove feverishly into the weeds the project scope expanded — at first gradually; in the closing stages at breakneck pace — and in the final days — as per the warning of exceeded the [[Schwarzschild radius of document comprehension]] altogether. There was a sudden, catastrophic implosion, and everything associated with the project — all drafts, riders, boilerplate, annexes, schedules — and everyone — the firm {{ISDA}} engaged to hold the pen (a mysterious cyber law firm that spontaneously winked into existence when a document management system became self-aware)<ref>The firm, [[Tubb Fuller Breaden Potter Bacon]], (known in its marketing literature as [[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 into thin air. | As it was, the challenge was just too big. As they dove feverishly into the weeds the project scope expanded — at first gradually; in the closing stages at breakneck pace — and in the final days — as per the warning of Pimco Van Der Sark, lexophysical engineer at the University of [[Bretton Woods]] — exceeded the [[Schwarzschild radius of document comprehension]] altogether. There was a sudden, catastrophic implosion, and everything associated with the project — all drafts, riders, boilerplate, annexes, schedules — and everyone — the firm {{ISDA}} engaged to hold the pen (a mysterious cyber law firm that spontaneously winked into existence when a document management system became self-aware)<ref>The firm, [[Tubb Fuller Breaden Potter Bacon]], (known in its marketing literature as [[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 into thin air. | ||
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 chatbots — | 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 chatbots — | ||