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dvx: Legislative language is by nature obscure because it is both old and has evolved a highly complex structure - the purpose being to minimize ambiguity.

Does this apply to the phrase "any other financial instrument" as used in the TARP bill?

Truth unfolds in time through a communal process.

by marco (cowannar at gmail punkt com) on Fri Oct 10th, 2008 at 08:56:44 AM EST
[ Parent ]
Yes.

"Instrument" solves the problem of using the word "Asset" since the same instrument looks like an "Asset" or a "Liability" depending on which side of the transaction you sit.

Generality removes ambiguity. It also gives greater discretion.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Oct 10th, 2008 at 08:59:49 AM EST
[ Parent ]

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