Petard

{{quote:HAMLET: Let it work,
For ’tis the sport to have the enginer
Hoist with his own petard; and ’t shall go hard
But I will delve one yard below their mines
And blow them at the moon. }}

The Devil’s Advocate™

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Archegos risk management yesterday.

In which the curmudgeonly old sod puts the world to rights.

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Petard
/pɛˈtɑːd/ (n.)
From French: a small bomb comprising a box filled with powder, used to blast down a door or to make a hole in a wall. A squib; a firecracker. If it goes off it will frighten the bejesus out of the financial analyst community and may cause a bank run.

Note, to hoist something is to blow it up, not to raise it.

Hence, to be hoist by one’s own ~: to blow oneself up. Something that financial institutions are periodically prone.

Petard

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