82,974
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
{{a|myth|{{image|mezztranches|png|''I Watched Mezzanine Tranches Glitter In The Dark'', {{vsr|2009}}}}}}''The Atlantis Variation'' is a [[finance fiction]] novella by [[Vega|alpha-crazed]] beat poet [[Hunter Barkley]]. | {{a|myth|{{image|mezztranches|png|''I Watched Mezzanine Tranches Glitter In The Dark'', {{vsr|2009}}}}}}''The Atlantis Variation'' is a [[finance fiction]] novella by [[Vega|alpha-crazed]] beat poet [[Hunter Barkley]]. | ||
Set in a fluctuating spacetime that [[waiver]]s crazily between the [[present]], [[future]] and [[past]] — Barkley went so far as to invent a whole new tense, the “plumperfect present”, to deal with events which, he said, could only be located probabilistically in | Set in a fluctuating spacetime that [[waiver]]s crazily between the [[present]], [[future]] and [[past]] — Barkley went so far as to invent a whole new tense, the “plumperfect present”, to deal with events which, he said, could only be located probabilistically at a given point in time — but orbiting around one queasy weekend in September 2008, {{br|The Atlantis Variation}} concerns the machinations of a malign secret [[Clavam Hominum Senum Pallidorum|secret society of stuffy old men]], working in the bowels of the great institutions of their day, on “Project Atlantis”, a plot to revolutionise the derivatives trading universe with a new master trading agreement, the [[2008 ISDA Master Agreement]], known therefore as the Atlantis Variation. | ||
According to Barkley’s dystopian vision, the {{2008ma}} would be a definitive, final, [[flawed asset|flawless]]<ref>There was to be no Section {{isdaprov|2(a)(iii)}}</ref> self-aware edition of the {{isdama}}. Short, plainly worded, future-proofed and agile, it would allow counterparties to agree robust trading terms with little fuss and only the cursory clerical management delivered through unskilled personnel in low-cost jurisdictions and, eventually, [[chatbot]]s. | |||
It promised to be the long-lost missing [[Obsolescence|use-case]] for [[distributed ledger technology]], natively negotiated “[[Blockchain|on-chain]]” between arrays of dematerialised [[large language model]]s housed, for the sense of theatre, [[Proverbial school-leaver from Bucharest|in a single giant data centre in the outskirts of Bucharest]]. | It promised to be the long-lost missing [[Obsolescence|use-case]] for [[distributed ledger technology]], natively negotiated “[[Blockchain|on-chain]]” between arrays of dematerialised [[large language model]]s housed, for the sense of theatre, [[Proverbial school-leaver from Bucharest|in a single giant data centre in the outskirts of Bucharest]]. | ||
Line 13: | Line 11: | ||
While they romped wealthily about their sun-drenched meadows, the ’08 would silently, effectively consolidate all documentation across a wide range of products and asset classes ([[including but not limited to]] [[repo]], [[stock lending]], [[prime brokerage]], [[exchange traded derivatives]], [[commodities]] and [[emissions]]), finally moving the financial world into a stable [[Utopia|utopian state]] in which all risks are known, all eventualities experienced and contingencies accounted for. ''[[Risk]]'' would finally be banished for ever. | While they romped wealthily about their sun-drenched meadows, the ’08 would silently, effectively consolidate all documentation across a wide range of products and asset classes ([[including but not limited to]] [[repo]], [[stock lending]], [[prime brokerage]], [[exchange traded derivatives]], [[commodities]] and [[emissions]]), finally moving the financial world into a stable [[Utopia|utopian state]] in which all risks are known, all eventualities experienced and contingencies accounted for. ''[[Risk]]'' would finally be banished for ever. | ||
As it was, the challenge was just too big. As they dove feverishly into the weeds the project scope expanded — at first gradually; in the closing stages at breakneck pace — and in the final days — as per the warning of Pimco | As it was, the challenge was just too big. | ||
As the project approached completion, in the autumn of 2008, events intervened. The near total financial destruction of the planet meant that Project Atlantis never saw the light of day. | |||
As they dove feverishly into the weeds the project scope expanded — at first gradually; in the closing stages at breakneck pace — and in the final days — as per the warning of Pimco van der Sark, ex-NASA and now a lexophysical engineer at the University of [[Bretton Woods]] — exceeded the [[Schwarzschild radius of document comprehension]] altogether. There was a sudden, catastrophic implosion, and everything associated with the project — all drafts, riders, boilerplate, annexes, schedules — and everyone — the firm {{ISDA}} engaged to hold the pen (a mysterious cyber law firm that spontaneously winked into existence when a document management system became self-aware)<ref>The firm, [[Tubb Fuller Breaden Potter Bacon]], (known in its marketing literature as [[TFBPB]]) has never been heard of since, and curiously, no record now exists of this firm before 2008, even though it was apparently a global behemoth.</ref> and several thousand members of ISDA’s document working group, seconded by their employers to contributing their “clarifications” and [[For the avoidance of doubt|doubt-avoidances]] for the greater good of the standard form, simply vanished into thin air. It was subsequently proven by [[Pimco van der Sark|van der Sark]] (loosely based on real-life lexophysicist [[Havid Dilbert]]) that all this energy was not destroyed, but instead spewed out across a new in [[space-tedium]] dimension: a white hot radiation blast of financial regulation which engulfed the world. | |||
All — the document, the personnel, the drafting miscellanea and terabytes of [[Tedium|tedia]] — are now lost to history. We now do not know what the agreement said, how it said it, or indeed whether the agreement really existed at all. And the chatbots — | All — the document, the personnel, the drafting miscellanea and terabytes of [[Tedium|tedia]] — are now lost to history. We now do not know what the agreement said, how it said it, or indeed whether the agreement really existed at all. And the chatbots — |