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In any case, an {{isdama}} was once a rare and special beast. Nowadays it isn’t — financial institutions negotiate thousands of them every year — and, for fifteen or twenty years [[management consultant]]s all over the globe have pored over the ''{{wasteprov|cost}}s'' of [[negotiation]] to see how to bring them down. This means some kind of [[triage]]. The [[partner]] flipped it to the [[associate]], to the [[trainee]], to the [[in-house lawyer]], to the [[ISDA negotiator]], to the operations clerk. | In any case, an {{isdama}} was once a rare and special beast. Nowadays it isn’t — financial institutions negotiate thousands of them every year — and, for fifteen or twenty years [[management consultant]]s all over the globe have pored over the ''{{wasteprov|cost}}s'' of [[negotiation]] to see how to bring them down. This means some kind of [[triage]]. The [[partner]] flipped it to the [[associate]], to the [[trainee]], to the [[in-house lawyer]], to the [[ISDA negotiator]], to the operations clerk. | ||
It has led to the ''great {{t|dogma}} of {{t|contract}} [[negotiation]]''. | It has led to the ''great {{t|dogma}} of {{t|contract}} [[negotiation]]'': “Percy! Find me people cheaper units to negotiate these contracts!” | ||
First they came for the antipodeans. Then for school leavers in former satellite states of the Soviet Union. Then for people Northern Ireland. Then Bristol. Now they are scouring the outer suburbs of Birmingham. | |||
But throughout it all the {{isdama}}, with its different editions and their insufferable tax representations, its {{isdaprov|schedule}}, [[Credit support annex|annexes]], [[The ISDA Protocol|protocols]], [[2002 ISDA Equity Derivatives Definitions|definitions booklets]], every word of which rendered in a committee-crafted prose of the 19th century, remained the same. Never once did anyone ask: do we really need all of this? Is it really feasible to expect school-leavers from Bratislava to wade through all this? | |||
{{sa}} | {{sa}} | ||