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Locomotive Act: Difference between revisions
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This worked passably well until Karl Benz invented the ''motorwagen'' in Mannheim in 1885, at which point the potential for screaming along an autobahn at 240 mph suddenly outweighed the practical benefit the Red Flag Act offered. | This worked passably well until Karl Benz invented the ''motorwagen'' in Mannheim in 1885, at which point the potential for screaming along an autobahn at 240 mph suddenly outweighed the practical benefit the Red Flag Act offered. | ||
I mention this really only for its {{tag|metaphor}}ical power which will, one day, become apparent to financial regulators who presently think it is prudent to oblige lawyers to walk 60 yards in front of their clients’ [[master agreement|master trading agreements]] waving opinions on the enforceability of their [[close-out netting]] provisions, but | I mention this really only for its {{tag|metaphor}}ical power which will, one day, become apparent to financial regulators who presently think it is prudent to oblige lawyers to walk 60 yards in front of their clients’ [[master agreement|master trading agreements]] waving opinions on the enforceability of their [[close-out netting]] provisions, but doesn’t appear to have yet. | ||
{{draft}} | {{draft}} | ||
{{egg}} | {{egg}} | ||
{{c2|netting|UK Legislation}} | {{c2|netting|UK Legislation}} | ||