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Lehman: Difference between revisions
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For [[Lehman]] is a [[risk controller]]’s [[magic incantation]] — a [[hex]], a [[horcrux]], a way of killing lively debate stone dead in its tracks. For any new initiative, any pragmatic proposal to do things in a smarter way, can be derailed by oblique reference to the sad demise of [[Lehman Brothers]], however irrelevant it may be. For, as we all know, [[Chicken-licken|the sky fell in]] on {{t|Lehman}}’s head because it tried to standardize its business and create robust operational flows that didn't involve [[credit]] sitting on [[cross default]] [[escalation]]s for three weeks. | For [[Lehman]] is a [[risk controller]]’s [[magic incantation]] — a [[hex]], a [[horcrux]], a way of killing lively debate stone dead in its tracks. For any new initiative, any pragmatic proposal to do things in a smarter way, can be derailed by oblique reference to the sad demise of [[Lehman Brothers]], however irrelevant it may be. For, as we all know, [[Chicken-licken|the sky fell in]] on {{t|Lehman}}’s head because it tried to standardize its business and create robust operational flows that didn't involve [[credit]] sitting on [[cross default]] [[escalation]]s for three weeks. | ||
Had only its [[credit]] team been allowed to vacillate nervously for weeks upon end about whether to waive {{isdaprov|Credit Event Upon Merger}} for [[Hedge fund]] clients, [[Lehman]] might still be with us today. | |||
Similarly, [[Magic circle law firm|counsel]] will resist any stroke of your pen against their mangled syntax on the solemn, but unelucidated, pretext that they “lived through the [[Lehman]] administration” and are so scarred by the experience<ref>Look, let’s face facts, campers: the [[Lehman]] collapse was hardly some POW chain-gang on Burma Railway for our learned friends, so hold those crocodile tears.</ref> that that record must state, in [[legal triplicate]]s, obvious truisms (like [[Time is of the essence|time being of the essence]] [[shall]] not vitiate [[applicable]] contractual [[grace period]]s — real-life example) and under no circumstances can one be as foolhardy as to countenance an appeal to the common sense or capacity for formal symbolic logic of the [[Queen’s Bench Division]]. | |||
{{ | {{sa}} | ||
*[[MF Global]] | *[[MF Global]] | ||
*[[Nosferatu]] | *[[Nosferatu]] | ||
*[[Chicken Licken]] | *[[Chicken Licken]] | ||
*[[Lehmans]] | |||
{{egg}} | {{egg}} | ||
{{draft}} | {{draft}} | ||
{{c|Magic words}} | {{c|Magic words}} | ||