The Day The Sub-Prime Died

This is sooooo funny ... okay, maybe it isn't something *everyone* can understand, but it's not exactly the kind of thing limited to industry inside-insiders. I can post definitions for whatever somebody doesn't get, if you want, but for now, just sing this to the tune of Don McLean's "American Pie" ...

The Day the Sub-Prime Died

A long, long time ago...
I can still remember
How that yield spread used to make me smile
And I knew if I had my chance
All those mo-fos I could finance
And I could pay my bills off for a while

But then September made me shiver
With every good faith I'd deliver
Bad news on my e-mail
I just lost one more sale

I can't remember if I cried
When I saw the Fremont start to slide
But something touched me deep inside
The day the Sub-Prime died

So bye-bye, B\C money supply
Sent my package to four lenders
But they all asked me "Why?"
And those good old boys were on a crack induced high
Singin', "This'll be the day the loans die ...
This'll be the day the loans die."

Did you write some B\C loans?
Did you blow bucks on an iPhone?
Did that nut Cramer tell you so?
Do you believe in rate control?
Can FHA save your buyer's soul?
Why is underwriting today so damn slow?

Well, I know you'll have to cut those fees
And you're wondering who has moved your cheese
Bernanke's on the news
You can't afford the MBA dues

I was a semi-rich middle-aged broncin' buck
With a lead generator and a lot of pluck
But I knew I was out of luck
The day the Sub-Prime died

So bye-bye, B\C money supply
Sent my package to four lenders
But they all asked me "Why?"
And those good old boys were on a crack induced high
Singin', "This'll be the day the loans die."