This is circulating trading desks via email:

SING TO THE TUNE OF 'BOHEMIAN RHAPSODY' BY QUEEN

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 (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 CDO's instead

Pulled the trigger, now it's dead

Mama - I had just begun

These CDO's have blown it all away

Mama - oooh-hoo-ooo

I still wanna buy

I sometimes wish I'd never left Goldman at all.

(guitar solo)

~~~



I see a little silhouette of a Fed

Bernanke! Bernanke! Can you save the whole market?

Monolines and munis - very very frightening me!

Super senior, super senior

Super senior CDO - magnifico

I'm long of subprime, nobody loves me

He's long of subprime CDO fantasy

Spare the margin call you monstrous PB!

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 go - 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 PB - 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

Any way the Fed goes.....