A Spoonful of Sugar

A SPOONFUL OF SUGAR

The credit skills we gained

Through all the years of stress and strain

To tear apart a company’s reports

Nowadays seem little use

We ain’t the train, we’re the caboose

A loan

Arrives

Oversubscribed 6 times

                Before we can review the deal we find we’re on the board

                Credit stats ignored

                We’re following the horde

                We can still flip it later for a nominal reward

                This is how it goes each day

It’s really not a question

Of which credits we approve

Glenn says that he will flip but still he holds

Some day there’ll be an event

Which will cause a price descent

Will he

Get out

Before the market rout?

                For the price of a bank loan is a function of demand

                The tight spreads they command

                Are houses built on sand

                Allocations so tiny that we flip ‘em for a grand

                This is how we earn our pay

Someone once said that this is easy

It’s like picking up free cash

That others left upon the street for us to grab

I’m sure glad that it’s no crime

And it takes so little time

I’m sure (I’m sure)

You’ll see (you’ll see)

The lawyers would agree

                Too many conflicts of interest means this structure doesn’t work

                (We wouldn’t want to shirk

                Our duties as his clerk).

                In-house cash stays in Hartford

                Move the outhouse to New York

                HAIL OUR INDEPENDENCE DAY!