The Armourer: An Opco Boone Adventure: Difference between revisions

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“What? Give that here.” The Precedent Commander scowled. It aggrieved him to see this undirected, crackling energy.   
“What? Give that here.” The Precedent Commander scowled. It aggrieved him to see this undirected, crackling energy.   


Barberazza tossed over the piece. Hare inspected it. The workmanship was rough, but sound. It was put together with a young man’s vigour. The structure was sturdy: the defs were true — zilch redundancies. The cross-refs dovetailed — xml field-embedded, auto-updating. The multi-level numbering was rudimentary but true. Hare lined up the counterpart assembly and took a sighter. Straight. Clean.  
E. J. tossed over the piece. Hare inspected it. The workmanship was rough, but sound. It was put together with a young man’s vigour. The structure was sturdy: the defs were true — zilch redundancies. The cross-refs dovetailed — xml field-embedded, auto-updating. The multi-level numbering was rudimentary but true. Hare lined up the counterpart assembly and took a sighter. Straight. Clean.  


“Yeah, that’s not bad, but there’s not a lot that can go wrong on a [[Calculation agent|calc agent]] appointment [[side letter]]. You got a bit to learn yet, lad.”
“Yeah, that’s not bad, but there’s not a lot that can go wrong on a [[Calculation agent|calc agent]] appointment [[side letter]]. You got a bit to learn yet, lad.”
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Hare glowered.
Hare glowered.


Barberazza smiled back at him. “Gimme another one, sir. We got a lot to get through. The Eagle Squad needs these at the front line”
E. J. smiled back at him. “Gimme another one, sir. We got a lot to get through. The Eagle Squad needs these at the front line”


Hare snorted. “Meh. Take your time kid. Those peashooters don’t need nothing.” He thought for a moment, then brightened. “Oh, this bump-stock is off-balance. Lad, would you be a star and fetch me a weight?”
Hare snorted. “Meh. Take your time kid. Those peashooters don’t need nothing.” He thought for a moment, then brightened. “Oh, this bump-stock is off-balance. Lad, would you be a star and fetch me a weight?”
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“Commander Burke can show you. He runs the counter in the precedent depot.”
“Commander Burke can show you. He runs the counter in the precedent depot.”


The precedent depot was a caged area recessed and towards the back of the warehouse. As Barberazza entered he ran his hand along the rail. A patina of dust lifted. ''Busy down here much?'' Barberazza got to the counter. He pinged the bell. An elderly man in a yellow cap shuffled into the booth, expectorating into a soft commitment. He set down a cigarette. His eyes were red-rimmed but kind. He smiled, pleased of the visit.
The precedent depot was a caged area recessed and towards the back of the warehouse. As E. J. entered he ran his hand along the rail. A patina of dust lifted. ''Busy down here much?'' E. J. got to the counter. He pinged the bell. An elderly man in a yellow cap shuffled into the booth, expectorating into a soft commitment. He set down a cigarette. His eyes were red-rimmed but kind. He smiled, pleased of the visit.


“Sorry about that — I was, ah, distracted for a minute. Now, young man. How can I help you today?”
“Sorry about that — I was, ah, distracted for a minute. Now, young man. How can I help you today?”
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The boy fumbled with credentials he knew would not pass muster.
The boy fumbled with credentials he knew would not pass muster.


“Eagle Cadet E.J. Barberazza,” the old man intoned, inspecting it carefully. He sighed. “So ''you’re'' this famous Barberazza fellow.” Burke studied the boy carefully. “Well: rules is rules: there’s no access with this, I’m afraid, young man.”
“Eagle Cadet E.J. E. J.,” the old man intoned, inspecting it carefully. He sighed. “So ''you’re'' this famous E. J. fellow.” Burke studied the boy carefully. “Well: rules is rules: there’s no access with this, I’m afraid, young man.”


The boy looked worried. “But Commander Hare sent me here for — wait: what do you mean, ‘famous’?”  
The boy looked worried. “But Commander Hare sent me here for — wait: what do you mean, ‘famous’?”  
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“All right, lad. In you go. The waits are stored at the far end of the boilerplate stacks. Head down to row five, column eight. I’ll be down presently. And don't touch anything.”
“All right, lad. In you go. The waits are stored at the far end of the boilerplate stacks. Head down to row five, column eight. I’ll be down presently. And don't touch anything.”


Barberazza navigated the boilerplate, running his gloved finger across the dusty spines. It was all here: all the ineffable, intricate, technical engineering and wiring schematics they contained. This was the articulated history of the Eagle Squad’s exploits — all the derring do; all the struggles; all the pear-shaped hulks and wrecked prospectuses. Every aspect: third party rights, representations, warranties, covenants, conditions precedent, conditions subsequent, waivers, notices, assignments, governing law, non-exclusive jurisdiction, exclusive jurisdiction, sovereign immunity, process agency, and protocols, organised by [[trade association]] and cross checked by regulatory regime.  
E. J. navigated the boilerplate, running his gloved finger across the dusty spines. It was all here: all the ineffable, intricate, technical engineering and wiring schematics they contained. This was the articulated history of the Eagle Squad’s exploits — all the derring do; all the struggles; all the pear-shaped hulks and wrecked prospectuses. Every aspect: third party rights, representations, warranties, covenants, conditions precedent, conditions subsequent, waivers, notices, assignments, governing law, non-exclusive jurisdiction, exclusive jurisdiction, sovereign immunity, process agency, and protocols, organised by [[trade association]] and cross checked by regulatory regime.  


There were shelves and shelves of them, all housed on ancient mahogany. He hit the ISDA stack and the boy stared in awestruck wonder at the ancient wisdom they contained. There is was: the motherlode: the [[1985 ISDA Code of Standard Wording, Assumptions and Provisions for Swaps|1985 Code]]. The [[1987 ISDA Interest Rate and Currency Exchange Agreement|’87]]. The [[1992 ISDA Master Agreement|’92]]. The [[2002 ISDA Master Agreement|’02]], and even a prototype [[2008 ISDA Master Agreement|2008]], still in its shrink-wrap, never used. And every conflict, every situation, every skirmish, every desperate last stand in furtherance of those sacred testaments that the [[Eagle Squad]] heroes had ever mounted. User guides, tax addenda, elections schedules, bail-in protocols, master confirms, closing agendas, global securities — ''everything''. Work manuals to deal with every situation.  
There were shelves and shelves of them, all housed on ancient mahogany. He hit the ISDA stack and the boy stared in awestruck wonder at the ancient wisdom they contained. There is was: the motherlode: the [[1985 ISDA Code of Standard Wording, Assumptions and Provisions for Swaps|1985 Code]]. The [[1987 ISDA Interest Rate and Currency Exchange Agreement|’87]]. The [[1992 ISDA Master Agreement|’92]]. The [[2002 ISDA Master Agreement|’02]], and even a prototype [[2008 ISDA Master Agreement|2008]], still in its shrink-wrap, never used. And every conflict, every situation, every skirmish, every desperate last stand in furtherance of those sacred testaments that the [[Eagle Squad]] heroes had ever mounted. User guides, tax addenda, elections schedules, bail-in protocols, master confirms, closing agendas, global securities — ''everything''. Work manuals to deal with every situation.  
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“''Wait a minute''! Could there be —” he said out loud, but before he finished the thought, he was racing down the aisle. The stack was alphabetical, by topic. He let his fingers do the walking. “[[BIPRU]] ... [[BIS]] ...[[Bid-ask]] ...[[bifurcation]] ... [[big data]] ... ''[[Biggs constant|Biggs]]''”
“''Wait a minute''! Could there be —” he said out loud, but before he finished the thought, he was racing down the aisle. The stack was alphabetical, by topic. He let his fingers do the walking. “[[BIPRU]] ... [[BIS]] ...[[Bid-ask]] ...[[bifurcation]] ... [[big data]] ... ''[[Biggs constant|Biggs]]''”


''There it was''. He pulled the file. The volume was dry and worn away at the edges. The spine was cracked. He carefully leafed back through the pages — 1999, 1998, 1997 ... August, July, June — but then thought, ''no''. He closed the book, balanced it on this palm. As the legal commentaries predicted, it split by itself and fell open at page 532. Barberazza regarded it: a yellowed, waxen page, pinned in the corner. On it, smudged, faded pixels. He could just make out the underlying, double-faxed text.
''There it was''. He pulled the file. The volume was dry and worn away at the edges. The spine was cracked. He carefully leafed back through the pages — 1999, 1998, 1997 ... August, July, June — but then thought, ''no. Let’s do this properly. The way it is meant to be done''. He closed the book, balanced it on this palm. As the august legal commentaries of his apprenticeship had predicted it would, the volume, so beloved of Eagle Cadets over the ages, fell open at page 532. E. J. regarded it: a yellowed, waxen page, pinned in the corner. On it, smudged, faded pixels. He could just make out the underlying, double-faxed text.


}}{{quote|THIS LEGEND SHALL CEASE TO APPLY UPON THE EXPIRY OF THE PERIOD OF 40 DAYS AFTER THE COMPLETION OF THE DISTRIBUTION OF ALL THE SECURITIES OF THE TRANCHE OF WHICH THIS SECURITY FORMS PART.}}{{indent|
}}{{quote|THIS LEGEND SHALL CEASE TO APPLY UPON THE EXPIRY OF THE PERIOD OF 40 DAYS AFTER THE COMPLETION OF THE DISTRIBUTION OF ALL THE SECURITIES OF THE TRANCHE OF WHICH THIS SECURITY FORMS PART.}}{{indent|


And there is was, a single-faxed manuscript, ringing the final full stop, leading to a little balloon in the margin, in which the worlds were scrawled: “not bold”.
And there is was, that famous, single-faxed manuscript, ringing the final full stop, a spidery line leading to a little balloon in the margin in which, rendered in a neat cursive, the words, “not bold” appeared.


“Whoa,” Barberazza breathed. “The [[Biggs hoson|Biggs Hoson]]. The very first.”
“Whoa,” E. J. breathed. “The original [[Biggs hoson|Biggs Hoson]] itself.” There it was: that famous, emboldened period: the tiny, microscopic, indivisible unit of legal markup. E. J. just stood there and took it in, in its iconic, finical exactitude. So ''stark''. So ''simple''. So ''elegant''. So ''pure'', in its absolute, utter, limit-attaining pedantry.  E. J. whispered: “None smaller. None more pure. None more pedantic.”
}}
}}

Revision as of 10:10, 18 June 2021

The Adventures of Opco Boone, Legal Ace™


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Hare looked the kid up and down. He was working on a handheld device of some kind. His eyes were wide. He had a hunger to learn.

The boy looked up. “Finished. I done this one.”

“What? Give that here.” The Precedent Commander scowled. It aggrieved him to see this undirected, crackling energy.

E. J. tossed over the piece. Hare inspected it. The workmanship was rough, but sound. It was put together with a young man’s vigour. The structure was sturdy: the defs were true — zilch redundancies. The cross-refs dovetailed — xml field-embedded, auto-updating. The multi-level numbering was rudimentary but true. Hare lined up the counterpart assembly and took a sighter. Straight. Clean.

“Yeah, that’s not bad, but there’s not a lot that can go wrong on a calc agent appointment side letter. You got a bit to learn yet, lad.”

Hare tossed it back.

The boy looked at him with blazing, fierce excitement. “That’s all I want, sir — to learn. Whatever you got, I’m buying!”

Commander Hare shook his head thoughtfully. The kid had it bad: it was time to have some fun with him. He chuckled to himself, dug into the the hopper and pulled out a lightweight chro-moly engagement iron with a silencer.

He tossed it over. “What do you make of this one then, lad?”

The boy took it low, with his left hand. Reflex catch — he moved with graceful economy. You could already see he was a natural. He weighed the piece in his hands, flipped it over, locked his elbows, splayed and peered down the boilerplate.

“Well?”

The boy nodded “Nice pick-up. Handles smoothly, though a touch front-heavy — I guess on account of that front-loaded defs module.”

“Go on?”

“That extra weight lends the piece a certain confidence, sir, but really it isn’t necessary. I mean, it might be handy in a scrape at close-quarters, but over a prolonged engagement, that’s going to wear you down.”

This was quite the piece of analysis. Whatever they were drilling into him on the Eagle Cadet Training Programme was sinking in, fast. “Very good. And what about construction?”

The boy deftly disassembled the piece and lined up the parts, studying then for a moment. “Finance-grade, for sure. Seems a bit over-engineered.” His hands flew urgently but carefully over the reps magazine. He skittered through the standard confi playbook, a kid hopping on stones to cross a river. Nimble. He must have committed it to memory. He didn’t miss a beat. The boy was well-drilled: there was no denying it.

“Limited scope, no affiliates, need to know. It looks good, sir. Plus points: it’s sleek, measured, nice baffle quotient in the early phases. I like the elaborate construction phase up front. Diverts a front-on attack."

Hare purred. “See? That’s how you do it, lad."

“ — But the balance is off by quite a bit, and there are a couple of back-door security issues.”

“What?”

“No NOM or EA. It’s susceptible to a D.E.A.A., sir. ”

“Er, a D.E.A.A. —”

“Denial of Entire Agreement attack, sir.”

Cloyingly submissive, the little bastard.

“Significant parol vulnerability.”

Hare gritted his teeth. “That’s excellent work, soldier. You’ve picked all all of the issues with this one. Strong analysis. I’m impressed. You are learning fast.”

The boy continued to inspect the side-arm. “Oh, look at this. There’s a general indemnity. That’s mad! Who the hell fits one of those onto a confi?

Hare cleared his throat.

The boy flipped a catch. “What the hell ... A BOC indemnity!” He carefully set the piece down on the bench and started working at it with his redline. “That’s positively dangerous.”

He made a couple of careful incisions and slowly, delicately, withdrew the offending mechanism and dropped it in a sterilised waste receptacle.

Hare looked on, warily. “I —”

“That was close, sir.”

Against his better judgement, Hare heard himself blurt out, “What is a “bock indemnity”?”

“It’s an indemnity in the contract breach, sir. Someone has crossed the wires here and routed a reimbursement covenant into the breach mechanism. The terminals are close together, and it’s easy to do, but standard reference works cite an elevated risk of localised explosion from this configuration. High degree of indeterminacy, exothermic chain reactions possible.”

“Oh, a Bee-Oh-Cee indemnity,” Hare said, quickly. “Right.”

The boy snorted. “Who the hell drafted th—”

But at that moment the he saw the date-stamped authenticated signature below the serial number. “B.A.H.” The boy read the room. He flipped the piece over and inspected the handle. "Whoa: this destroy or return recoil is a nice piece of work. Sweet.”

Hare glowered.

E. J. smiled back at him. “Gimme another one, sir. We got a lot to get through. The Eagle Squad needs these at the front line”

Hare snorted. “Meh. Take your time kid. Those peashooters don’t need nothing.” He thought for a moment, then brightened. “Oh, this bump-stock is off-balance. Lad, would you be a star and fetch me a weight?”

“A weight?”

“Yeah, a weight — a fairly long one, I think — to counterbalance this stock.”

“Fairly long?”

“Yeah, make it a long weight. Say a five. Or even a six. I can buff it down if need be.”

“You got it, sir. Where do I get one of those?”

“Commander Burke can show you. He runs the counter in the precedent depot.”

The precedent depot was a caged area recessed and towards the back of the warehouse. As E. J. entered he ran his hand along the rail. A patina of dust lifted. Busy down here much? E. J. got to the counter. He pinged the bell. An elderly man in a yellow cap shuffled into the booth, expectorating into a soft commitment. He set down a cigarette. His eyes were red-rimmed but kind. He smiled, pleased of the visit.

“Sorry about that — I was, ah, distracted for a minute. Now, young man. How can I help you today?”

“Morning, sir.” The boy snapped out a salute. “I’m looking for a long weight. Commander Hare said you might be able to help me.”

“Did he, now? A long weight.” The old man rubbed his chin. “Did he say how long?”

“A six, please.”

“Oh, a six. That’s a long one.” The old man paused, remembering something important. “Now have you got your badge, son? I don’t want to stand on ceremony, but this is a restricted area. Only credentialised Eagle Squad officers have access.”

The boy fumbled with credentials he knew would not pass muster.

“Eagle Cadet E.J. E. J.,” the old man intoned, inspecting it carefully. He sighed. “So you’re this famous E. J. fellow.” Burke studied the boy carefully. “Well: rules is rules: there’s no access with this, I’m afraid, young man.”

The boy looked worried. “But Commander Hare sent me here for — wait: what do you mean, ‘famous’?”

The old man chuckled softly. “Alright, alright. They talk about all the Cadets in the officers’ mess, you know. I hear you’re a good one. Boone said you nailed your closeout aptitude testing.”

Barbarossa froze. “What did you say?”

Burke shrugged. “Commander Boone was talking about your CAT score, that’s all —”

“He was? He— he — he knows who I am? Commander Boone knows who I am?

“Sure he does. You’re one of our bright young things.”

The boy looked star-struck.

But, now you need a long wait. Now, listen to me: as long as you don’t touch anything, I’m happy to let you go in. But this is a sacred space, understand? This is reserved sanctuary for the Eagle Squad Commanders, and you must respect it. There is their library; their control; their golden stream of authority. There is so much vital wisdom here, catalogued and arranged carefully. Some of the scripts are extremely fragile.”

Burke slapped a pair of white cotton gloves on the counter.

“Wear these.”

“Oh yes sir, yes! Yes, of course I understand that.”

“All right, lad. In you go. The waits are stored at the far end of the boilerplate stacks. Head down to row five, column eight. I’ll be down presently. And don't touch anything.”

E. J. navigated the boilerplate, running his gloved finger across the dusty spines. It was all here: all the ineffable, intricate, technical engineering and wiring schematics they contained. This was the articulated history of the Eagle Squad’s exploits — all the derring do; all the struggles; all the pear-shaped hulks and wrecked prospectuses. Every aspect: third party rights, representations, warranties, covenants, conditions precedent, conditions subsequent, waivers, notices, assignments, governing law, non-exclusive jurisdiction, exclusive jurisdiction, sovereign immunity, process agency, and protocols, organised by trade association and cross checked by regulatory regime.

There were shelves and shelves of them, all housed on ancient mahogany. He hit the ISDA stack and the boy stared in awestruck wonder at the ancient wisdom they contained. There is was: the motherlode: the 1985 Code. The ’87. The ’92. The ’02, and even a prototype 2008, still in its shrink-wrap, never used. And every conflict, every situation, every skirmish, every desperate last stand in furtherance of those sacred testaments that the Eagle Squad heroes had ever mounted. User guides, tax addenda, elections schedules, bail-in protocols, master confirms, closing agendas, global securities — everything. Work manuals to deal with every situation.

EJ drummed his fingers. No sign of the old timer. Where was he? It had been fifteen minutes now. But the young soldier was happy — he was in heaven. This was like the Library of Alexandria. Time to kill meant time to check out all these precious artifacts. The boy hit the mark-up depot.

“Oh, man.”

His pulse quickened. This was the special sauce. Assorted, curated clips and parchments, some dating back decades — manuscript amendments, balloons, blobs, riders inserts, side letters, handwritten variations, accessions, scribbled markups in the hands of these fallen warriors of the FAS Wars. A complete set of the Enron Corpus. Everything was here: the sum total of Eagle Squad learning.

Wait a minute! Could there be —” he said out loud, but before he finished the thought, he was racing down the aisle. The stack was alphabetical, by topic. He let his fingers do the walking. “BIPRU ... BIS ...Bid-ask ...bifurcation ... big data ... Biggs

There it was. He pulled the file. The volume was dry and worn away at the edges. The spine was cracked. He carefully leafed back through the pages — 1999, 1998, 1997 ... August, July, June — but then thought, no. Let’s do this properly. The way it is meant to be done. He closed the book, balanced it on this palm. As the august legal commentaries of his apprenticeship had predicted it would, the volume, so beloved of Eagle Cadets over the ages, fell open at page 532. E. J. regarded it: a yellowed, waxen page, pinned in the corner. On it, smudged, faded pixels. He could just make out the underlying, double-faxed text.


THIS LEGEND SHALL CEASE TO APPLY UPON THE EXPIRY OF THE PERIOD OF 40 DAYS AFTER THE COMPLETION OF THE DISTRIBUTION OF ALL THE SECURITIES OF THE TRANCHE OF WHICH THIS SECURITY FORMS PART.

And there is was, that famous, single-faxed manuscript, ringing the final full stop, a spidery line leading to a little balloon in the margin in which, rendered in a neat cursive, the words, “not bold” appeared.

“Whoa,” E. J. breathed. “The original Biggs Hoson itself.” There it was: that famous, emboldened period: the tiny, microscopic, indivisible unit of legal markup. E. J. just stood there and took it in, in its iconic, finical exactitude. So stark. So simple. So elegant. So pure, in its absolute, utter, limit-attaining pedantry. E. J. whispered: “None smaller. None more pure. None more pedantic.”