03 April 2008

Bernankian Rhapsody


Sung to Queen’s Bohemian Rhapsody
(hat tip to Bill Murphy at Lemetropole Cafe for concept)

Is this the real price?
It is just fantasy.
Mark it to model
But watch out for FASB,

Opened my eyes,
Looked at your buys and see,
You're just a poor Bear
Triple A casualty

Because you bought it high, sold it slow,
Rated high, values low,
Any way the spreads go
Doesn't really matter to me, to me...

Obama - just killed a Fund
Let the market run ahead
Cut too slowly, now it's dead,
Obama - I had just begun
These foreign banks have blown my dreams away

Obama - oooh ~~~~~
I still wanna try
I sometimes wish I'd never left Princeton at all.
Carry trade, I'm afraid, its going to K-winter....

[Musical Interlude]

I am the little silhouetto of a man
Hammer Hank! Barney Frank! Can you save my appointment?
Midnight calls they want my balls - very very frightening -- please!
SP's tanking, so frustrating,
Cramer called, he's menstruating,
Brokers deeply into blow -
Where's Gasparino! oh 0h 0h....

I'm the death of subprime, nobody loves me
He's the death of packaged debt, perma-bullish fantasy
Spare us we pray from this monstrosity.

Easy come easy go, Paulson wants to know,
Gold Repos! No - you will not let them go - not let them go!
Spot Silver! No - you will not let it go - not let it go!
The Dollar! We will not let it go - not let it go!
Will not let rates go, not let them go!
Won't take Funds down below, crack Zero!
No, no, no, no, no, no, no, -

Obama mia, set me free-ya, Obama please just keep me on
Sir Alan had this devil put aside for me
For me, for me, for me

So you think you can fund Bear and spit in the Democrats' eye?
And cross swords with Schumer and leave Timmy twisting to die?
Obama - can't do this to me Obama
Just keep me on - your party wants my butt out of here!

Moral hazard doesn't matter,
Anyone can see,
I want to keep the Fed chair -- no price really matters to me

Any way the wind blows.....