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Rhapsody in red ink

The lyrical e-mail that's currently doing the rounds of investment bank inboxes: 

Subject: CDO fantasy - to the tune of Bohemian Rhapsody

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

etc, etc.

FT Alphaville has the full version.

I suppose you've to to admire the blitz spirit - markets in pandemonium, Wall Street in meltdown, pink slips in the post. There was a time when the pin-stripe brigade would exit from the nearest window. Now they write jokey songs about their predicament instead.

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Paul Penrose

Paul Penrose

Head of Research

Finextra

Member since

06 Oct 2006

Location

London

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