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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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Nkiru Uwaje Chief Operating Officer at Mansa
12 September
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