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Here is the City does it again


It’s been a long time since there’s been a good banking song (the last one I put out there was way back in May last year), Here is the City has come up with another new one.  Bohemian Rhapsody’s subprime blues:


Is this the real price ?
Is this just fantasy ?
Financial landslide
No escape from reality

Open your eyes
And look at your buys and see.
I’m now a poor boy
High yielding casualty

Because I bought it high, watched it blow
Rating high, value low
Any way the Fed goes,
Doesn’t really matter to me, to me.

Mama – just killed my fund
Quoted CDOs instead
Pulled the trigger, now it’s dead

Mama – I had just begun
These CDOs have blown it all away
Mama – oooh
I still wanna buy
I sometimes wish I’d never left Goldman at all. 

I see a little silhouette of a Fed
Bernanke! Benanke ! Can you save the whole market ?
Monolines and munis – very very frightening !
Super senior, super senior
Super senior CDO – magnifico

I’m long on subprime, nobody loves me
He’s long on subprime, CDO fantasy
Spare the margin call, don’t blame me for all !
Easy come easy go,
Will you let me go ? 

Peloton !
No, we will not let you go !
Let him go Peloton!
We will not let you go !
Let him go, Peloton !
We will not let you go !
Let me go !
Will not let you go
Let me go (never)
Never let you got
Let me go
Never let me go – ooo
No, no, no, no, no, no, no

Oh mama mia, mama mia, mama mia, let me go !
S&P had the devil put aside for me for me, for me, for me………….

So you think you can fund me and spit in my eye?
And then margin call me and leave me to die? 

Oh  – can’t do this to me
Just gotta get out, just gotta get right outta here

Ooh yeah, ooh yeah
No price really matters
No liquidity
Nothing really matters
No price really matters to me
Anyway the Fed goes…

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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