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Template:M summ 2018 CSD 11(j): Difference between revisions
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===Statutes as amended from time to time. Like, you don’t say...=== | ===Statutes as amended from time to time. Like, you don’t say...=== | ||
It seems fussy, peculiar and bloody-minded, I know — and what a thing to suddenly remember, and crowbar into the dog days of the ''eleventh'' paragraph! — but for those earnestly wondering what sort of paranoid ''freak'' would even ''entertain'' the fantastical idea that “laws” might not be taken to refer to those laws ''as they presently exist'', or ''as they have been replaced'' from time to time — there is a straightforward answer: the sort of freak who the industry turns to to issue [[ERISA netting opinion|netting opinions about ERISA funds]]. That’s who. To this day ERISA plans are treated as non-nettable ''precisely'' because | It seems fussy, peculiar and bloody-minded, I know — and what a thing to suddenly remember, and crowbar into the dog days of the ''eleventh'' paragraph! — but for those earnestly wondering what sort of paranoid ''freak'' would even ''entertain'' the fantastical idea that “laws” might not be taken to refer to those laws ''as they presently exist'', or ''as they have been replaced'' from time to time; that is why anyone even needs to say what the {{imcsd}} says in Paragraph {{imcsdprov|11(j)}} — there is a straightforward answer: the sort of freak who the industry turns to to issue [[ERISA netting opinion|netting opinions about ERISA funds]]. That’s who. | ||
To this day ERISA plans are treated as non-nettable ''precisely'' because soe ERISA genius at Cadwallader can’t quite get himself comfortable that references in ERISA legislation to “the [[Bankruptcy Code]]” doesn’t mean the [[Bankruptcy Code]] as it was in 1972 ''before they had invented [[derivatives]]'', and at which time the [[safe harbor]] for derivatives netting arrangements hadn’t been implemented. | |||
All too horribly true. | All too horribly true. | ||