Monday, September 29, 2008

The financial crisis - what's old is new again.

Once upon a time, a song was written to commemorate a government bailout of a public company. I still like that song, and in the situation where we find ourselves today, it is still applicable. Just a few words in the chorus need to change.

All together now!

I am changing my name to WaMu
I am going down to Washington D.C.
I will tell them all as well, man
That what they did for Alan Fishman
Will be perfectly acceptable to me
I am changing my name to WaMu
I am headed for that great receiving line
So when they hand a million grand out
I'll be standing with my hand out
Yes sire I'll get mine

P.s. Yes, I know that Washington Mutual has been (largely) acquired by JPMorgan Chase rather than being directly bailed out by taxpayers, but of all of the banks that have been mentioned, WaMu fits into the meter of the lyrics the best. Arlo Guthrie has been singing it lately changing Chrysler to Fannie Mae, but I'm not sure how that would work. Besides, it's not really his song, anyhow.

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