Freedom from Blog

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Monday, December 10, 2007

Dire Straits

Now look at them yo-yo's that's the way you do it,
You make them subprime loans to the poor,
That ain't workin' that's the way you do it,
Sellin’ NINJA loans to someone with a low credit score.
Now that ain't workin' that's the way you do it
Lemme tell ya them guys ain't dumb,
Maybe get a default on a little 3-bedroom,
Maybe get a default on a property that’s plumb.

We gotta buy mortgages country wide from lending trees,
Bundle them and issue them with bonds,
We gotta divide them into tranches
We gotta collect our big fees.

See the mortgage broker with the Rolex and the Hummer?
Yeah buddy that's his corporate plane in the air,
That mortgage broker got his own Florida condo,
That mortgage broker he's millionaire.

We gotta buy mortgages country wide from the lending trees,
Bundle them and issue them with bonds,
We gotta chop them up into tranches
We gotta collect our big fees.

I shoulda learned to be a home closer,
I shoulda learned to sell in them slums,
Look at that mama, she lost her house,
Man we could have some fun.
And he's, he’s on the beach, what's that? Hawaiian noises?
Someone bangin' on the bongoes like a chimpanzee,
That ain't workin' that's the way you do it
Sellin’ NINJA loans to someone with a low credit score.

For the background behind this ditty, see here, here, and here.

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