Citi Stupidity Clause Now Standard Feature Of Debt Deals Never again will a bank have to admit how bad at banking it is in court, at least on this matter. Author: Mar 10, 2021 Never again will a bank have to admit how bad at banking it is in court, at least on this matter. Decades, it seems, can pass between readings of the standard boilerplate inserted into every debt agreement. After all, this language has been honed by the finest transactional lawyers in the world; once they’re perfect, why change them, or even look at them when copying and pasting from the last one to the next one? It’s perfect, airtight, until it is not, because, as it turns out, some hedge fund managers are cleverer than decades’ worth of diligent contract attorneys, and some clients are far, far stupider than those same attorneys could have possibly imagined.