"Dear Diary" Moments in the Semester of a UCC Law Professor

Thursday, September 3 Secured Transactions ("Sadistic Transactions") met for the first time today. After dispensing with preliminary matters, I discussed the disadvantages of being an unsecured creditor and, conversely, the benefits afforded by law to secured creditors. After informing the students that well-known banks occasionally make unsecured, multimillion dollar loans, I asked the class for a five-letter word often used to describe those banks ("naive"). Someone responded, "stupid." It could be a long semester.