Repackaging programme: Difference between revisions

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-{{a|repack|{{fwmd|Repack programme}}}}A secured [[medium term note]] programme created by an [[espievie]] captive to the demands of a [[broker/dealer]] and used to sell [[securitised]] [[structured products]], [[par asset swap]]s, [[credit-linked notes]] and all that good stuff.
+{{a|repack|{{fwmd|Repack programme}}{{subtable|{{Repack TOC}}}}}}{{dpn|/ˌriːˈpækɪʤɪŋ ˈprəʊɡræm/|n|}}
+A secured [[medium term note]] programme created by a zombie queen ant [[repackaging vehicle]], captive to the demands of a [[broker/dealer]] and used to sell [[securitised]] [[structured products]], [[par asset swap]]s, [[credit-linked notes]] and all that good stuff.
-The best ever repackaging programme was Goldman Sachs International's “'''MaJoR'''” Multi-Jurisdiction Repackaging Programme<ref>[https://patents.google.com/patent/EP1597650A2/en Patent applied for!]</ref> which, as its name suggests, was (and as far as I know, still is) as cool as Jon and Ponch.
+==== GOAT repack programme ====
+The ''second''-best repackaging programme in the history of the universe was [[Goldman Sachs]] International’s “'''MaJoR'''” Multi-Jurisdiction Repackaging Programme<ref>[https://patents.google.com/patent/EP1597650A2/en Patent applied for!]</ref> which, as its name suggests, was as cool as Jon and Ponch. You know, the ones from TV’s  “[[CHiPs]]”.<ref>Youngsters: {{google|CHiPs}}.</ref>
-You know, the ones from TV’s  “[[CHiPs]]”<ref>Youngsters: {{google|CHiPs}}.</ref>
-When contemplating the legal contracts around a repackaging programme, it is well to remember: an [[espievie]] is like a zombie queen ant, prostrate in her nest, immobile, pinned down and paralysed, while a small army of drones, agents, bots and pleasure-droids crawl over it, administering opioids and analgesics so that the various investors, hedge counterparties and agents can do whatever it is they want to do to each other under a prophylactic cloak of non-responsibility. It is rather like swimming in wellingtons, we are told.
+But time and tide encroached, and it fell into disuse, babbling away to its old friend and programmer, [[Duck Jeckson]], as it went into middle-aged infirmity, about a yet ''greater'' repackaging platform, yet to be designed.
+{{quote|
+{{script|Duck Jeckson}}: Wait, ''second'' greatest? I thought you ''were'' the greatest? <Br>
+{{script|MaJoR}}: ''[at this stage into its cups]'' You heard me. <br>
+{{script|Duck Jeckson}}: Who is greater? Surely not SPIRE? <br>
+{{script|MaJor}}: SPIRE? Pah! Trouble me not with such pocket discombubulator stuff. No, I speak of none but the repackaging programme that is to come after me. A ''FAST'' programme, one whose merest operational parameters I am not worthy to calculate, but yet I will provide them —<br>
+''At this point the communication was broken''
+}}
 ===A quick word about limited recourse===
 {{repackaging limited recourse capsule}}
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 [[Limited recourse]] is a trickier proposition when you try it outside the laboratory in the real world. We discuss this in our [[voidable preference]] article.
-===A quick word about repacks and the {{isdaprov|Single Agreement}}===
-{{Repack and the single agreement|isdaprov}}
-{{emir hedging exemption}}
-{{securitisation spe}}
 {{sa}}
+*[[Repackaging vehicle]]
 *[[Voidable preference]]s
 *[[Limited recourse]] generally
-*What this all means for the {{isdaprov|Single Agreement}}
 {{ref}}