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{{a|g|}}{{dpn|/ˌlɪtɪˈɡeɪʃᵊni/<br> (Also [[suish]], [[squabblative]]|adj}} | {{a|g|}}{{dpn|/ˌlɪtɪˈɡeɪʃᵊni/<br> (Also [[suish]], [[squabblative]]|adj}}Of a commercial issue, important, basically straightforward, but thanks to the intervention of [[professional advisers]], rendered in language so opaque that no-one outside an [[Clavam Hominum Senum Pallidorum|inner cabal]] knows what is really going on. | ||
It often describes commercial endeavours that are predicated on [[plausible deniability]] — for example, that [[credit default swap]]s are not [[insurance contract]]s, or that [[equity swap]]s aren’t [[stamp duty|stampable]] investments in [[shares]] — which fictions oblige practitioners to adopt silly walks, secret handshakes and elliptical ways of describing ordinary things, all in the service of not uttering inconvenient realities. | |||
They become squabblative because while the [[legal eagle|practitioners]] who propagate these arrangements are well drilled, fluent and strongly incentivised to maintain this theatre, their counterparts in the litigation department, at the bar and on the bench are not. | They become squabblative because while the [[legal eagle|practitioners]] who propagate these arrangements are well drilled, fluent and strongly incentivised to maintain this theatre, their counterparts in the litigation department, at the bar and on the bench are not. | ||
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There are some cases where the confusion goes deeper: the JC’s contention is that [[credit default swap]]s are an intrinsically left-handed way of solving a straightforward problem, and as such are bound to create fear and loathing. | There are some cases where the confusion goes deeper: the JC’s contention is that [[credit default swap]]s are an intrinsically left-handed way of solving a straightforward problem, and as such are bound to create fear and loathing. | ||
{{sa}} | {{sa}} | ||
*[[Plausible deniability]] | |||
*[[Litigation department]] | *[[Litigation department]] | ||
*[[Writing for a judge]] | *[[Writing for a judge]] | ||
*[[Equity v credit derivatives showdown]] | *[[Equity v credit derivatives showdown]] | ||
{{ref}} | {{ref}} | ||