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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: ldo79 who wrote (351562)	12/20/2007 6:47:43 PM
From: Giordano Bruno	Read Replies (2) \| Respond to of 436258

Broker Joe! Show me some flow I need the dough! I’m Broker Joe! That Broker Joe! That Broker Joe! I do not like That Broker Joe! Would you buy my CDO? I do not like them, Broker Joe I do not like your CDO! Would you like it here or there? I would not like it here or there I would not like it anywhere I do not like your CDO I do not like it, Broker Joe Would you like to sell some yen? I do not want to sell the yen The big fat tail just kills my zen If you don’t sell now, then when? I will not sell it here or there I will not sell it anywhere I do not like your CDO I do not like it, Broker Joe Our SIV has had a few rough knocks Get in now, you sly old fox! I am slyer than a fox And I don’t think you have the docs That you must have if you foreclose And so a judge will thumb his nose At you, your SIV, and CDO Who owns the mortgage? I don’t know And you don’t either, Broker Joe I would not know it here or there I would not know it anywhere I will not buy your CDO I will not buy it, Broker Joe! We have some hedge funds who are long Those guys are smart! They can’t be wrong! Some funds are long and some are not The ones who are, are feeling caught The short ones make a lot of sense And they are up lots of percents No SIV, no yen Not now, not then Not here, not there I would not touch it anywhere I will not buy your CDO I will not buy it, Broker Joe! But you can trust the agencies They’ve rated this stuff Triple-B! This tranche is still investment grade You buy it here, your year is made! The agencies have been asleep Their ratings are just like ‘Bo Peep That is, they’re from a fairy tale As fiction goes, they’re off the scale And I do not believe them, Joe And so your tranche is a no-go You think at 50 it’s a do Until it falls to twenty-two I do not like your CDO, I will not buy it, Broker Joe! Have you met our in-house quant? He’ll model anything you want! Except, that is, transactions costs No thanks, I do not want the loss From any quant’s sexy black box Or mortgages unbacked by docs Or mindless buys of kiwi-yen Or ABX headed to 10 Or any other credit turd I’ve spoken, Joe, so hear the word I do not like your CDO, I will not buy it, Broker Joe! What? What must I do, What must I do What must I do to trade with you? Perhaps you should avoid the drink And use your brain sometimes to think And not assume what’s gone before Will follow on, and thus ignore That circumstances sometimes change And things that once seemed awfully strange Can swiftly become commonplace And then vanish once more, sans trace. In short, you’ll have to look ahead To win your future daily bread In your head you have two eyes, Use them, please, to analyze And then you’ll see your business grow So THINK THINK THINK THINK, Broker Joe! I see! I see! I start to think That all of my ideas stink That CDO is mark-to-myth The model’s written by a Sith I’ll call my custies on the phone And say “hey leave the yen alone!” I’ll leave it to the black-box nerds To buy up all the subprime turds! I’ll say “you’re welcome”, “thanks”, and “please” And just ignore the agencies And as for our beleaguered SIV The guy who runs it is a spiv I’d stay away if I were you Yes, that’s the wisest thing to do! It’s been a quite eventful year Weak hands have been found out, I fear At bonus time they’ll feel the pinch And find they’re working for the Grinch (that begs the question: which is worse? That bonus cheque, or all this verse?) But now, at last, the race is run Both year and verse are almost done I hope your holidays are great I’ll see you in 2008!