Sovereign v Subject

From John Reale:

Two guys, Sovereign and Subject, have an arrangement of sorts. Subject does the work, Sovereign sponges off of him. Subject puts up with it, because Sovereign will beat him up if he doesn’t.

Sovereign has gotten greedy of late. He’s decided to issue bonds backed by Subject, with a guaranteed return rate. He keeps some of the funds raised for himself, and maybe uses some to make Subject’s life a little more productive as well, but with the explicit condition that Subject is going to have to pay these funds back with interest.

Subject doesn’t like this plan. He also sees that Sovereign has very little incentive not to overpromise what Subject is capable of.

Sovereign has two takers in his Subject bond offering, Investor and Leech. Investor is impressed by what Subject is capable of, and wants to keep him well funded to achieve more, and to profit in the process. Leech is a bully and a coward, and wants Sovereign to squeeze Subject for all he can. Both have purchased bonds for very different reasons, but both are very concerned by the writing on the wall. It’s becoming apparent that Subject is overworked. He’s lost his motivation, and he’s been giving so much to Sovereign and Sovereign’s creditors that he hasn’t been able to properly take care of himself. Payments meeting the exorbitant amounts Sovereign has promised are no longer a given.

Naturally, Sovereign is troubled greatly by this development. If Subject underperforms, his gravy train derails: Not only does he lose his direct revenue stream, but also his take from controlling access to Subject.

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