Rehypothecatio

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The Jolly Contrarian’s Glossary

The snippy guide to financial services lingo.™

Trainee wizard spells are no match for a full-scale horcrux

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A spell uttered by boy wizard prime brokerage lawyers to confer magical powers of ownership over customer assets. Used during the Lehman insolvency, to no great effect, but how were these trainee wizards meant to know they were dealing with a full-scale horcrux?

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