Showing posts with label Derivatives. Show all posts
Showing posts with label Derivatives. Show all posts

Fixing It


Here are a few dictionary definitions to get us started (from the web).

Definition of FIX

transitive verb
1
a : to make firm, stable, or stationary
b : to give a permanent or final form to: as 
(1) : to change into a stable compound or available form fix
nitrogen> (2) : to kill, harden, and preserve for microscopic study (3) : to make the image of (a photographic film) permanent by removing unused salts
c : affixattach
2
a : to hold or direct steadily <fixes his eyes on the horizon>
b : to capture the attention of <fixed her with a stare>
3
a : to set or place definitely : establish
b : to make an accurate determination of : discover <fixingour location on the chart>
c : assign <fix the blame>
4
: to set in order : adjust
5
: to get ready : prepare <fix lunch>
6
a : repairmend <fix the clock>
b : restorecure fix
ed him up>

The recent meanings, however, if you have got a fix on them, have much to do with shady dealings. Whether it is the Hansie-Cronje-led fixing of matches in the 'gentlemen's game' a decade ago, or similar things happening now, the word 'fix' has become known for its underhand meaning. 
Maybe we could instead define things that are fixed/fixable/that have been fixed/that have potential to be fixed, like
LIBOR- that which gets 'fixed' by Barclays, UBS, and RBS.
Real-estate based Derivatives- those are fixed by Wall Street traders, the best of the best.
Olympic Associations- these remain unfixed because you need to know how they work in order to fix them.
For a fix in high places, you can say words like "Insider Trading", or "IMF Chief", or "Prime Minister of a country north of the Mediterranean". Ahem!


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