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{{g}}A class of [[derivatives]] invented by pioneering derivatives guru and amateur crime novelist {{author|Hunter Barkley}} which Barkley formulated to allow [[alternative investment funds]] who had lazily committed to [[environmental, social, and corporate governance]] standards in their portfolio, not realising that investors would then object to their lucratively leveraged investments in firearms, narcotics, palm oil plantations and financial weapons of mass destruction. | {{g}}A class of [[derivatives]] invented by pioneering derivatives guru and amateur crime novelist {{author|Hunter Barkley}} which Barkley formulated to allow [[alternative investment funds]] who had lazily committed to [[environmental, social, and corporate governance]] standards in their portfolio, not realising that investors would then object to their lucratively leveraged investments in firearms, narcotics, palm oil plantations and financial weapons of mass destruction. | ||
Barkley’s idea was to write swaps laying off the risk of shame on those who could most easily bear it — namely the actual polluting, intoxicating, environment-wrecking corporates in the portfolio themselves. He overcame early objections that this was ridiculously circular by pointing out that so was [[debt value adjustment]] hedging, and that kept a phalanx of financial institutions out of [[technical insolvency]] — and their [[DVA]] traders handsomely [[Compensation|remunerated]] — for a good three or four years after the worst excesses of the [[Global financial crisis|credit crunch]]. When people started to bridle at that — Could the Golden Crown Palm Oil Company of Sudan Pty Ltd really take its ''own'' [[turpitude]] back, and thereby exonerate each of its offshore fund shareholders of their ESG obligations? Barkley invented cross-entity “[[turpitude swap]]s”, where one natural wilderness gas fracking conglomerate could swap ''its'' regret and embarrassment at precipitating a series of minor earthquakes on the local Inuit with that of a Dutch distributor of poorly manufactured homemade pornography, thus creating a so-called “Turpitude Diffusion Event”. | Barkley’s idea was to write swaps laying off the risk of shame on those who could most easily bear it — namely the actual polluting, intoxicating, environment-wrecking corporates in the portfolio themselves. He overcame early objections that this was ridiculously circular by pointing out that so was [[debt value adjustment]] hedging, and that kept a phalanx of financial institutions out of [[technical insolvency]] — and their [[DVA]] traders handsomely [[Compensation|remunerated]] — for a good three or four years after the worst excesses of the [[Global financial crisis|credit crunch]]. When people started to bridle at that — Could the Golden Crown Palm Oil Company of Sudan Pty Ltd really take its ''own'' [[turpitude]] back, and thereby exonerate each of its offshore fund shareholders of their [[ESG]] obligations? Barkley invented cross-entity “[[turpitude swap]]s”, where one natural wilderness gas fracking conglomerate could swap ''its'' regret and embarrassment at precipitating a series of minor earthquakes on the local Inuit with that of a Dutch distributor of poorly manufactured homemade pornography, thus creating a so-called “Turpitude Diffusion Event”. | ||
{{sa}} | {{sa}} | ||
*[[ESG]] | |||
*[[Credibility derivatives]] | *[[Credibility derivatives]] | ||
*[[Turpitude]] | *[[Turpitude]] | ||
*[[Hunter Barkley]] |