Our thanks to one of our readers who sent in this little ditty, which should be sung to the tune of 'American Pie.'

A version of this apparently first starting doing the rounds when the internet bubble burst in 2001.

'A short, short time ago…
You can just remember
How those CDOs used to make you smile
And you knew if you had your chance
That you could make those returns dance
And, investors, would be happy for a while

But sub-prime made them shiver
With every default they would quiver
Bad news on the home front
You couldn't make a placement

I do remember that you cried
When you heard that AHM had fried
And something touched you deep inside
The day the CDO died

So, bye-bye, mister CDO guy
You piled the paper on
When the market was high
And the 2 and 20 made your living so fine
Singing "CDOs will keep me alive
CDOs will keep me alive"

But you never saw the coming fall
That triple AAA was worth naff all
Cos Moodys didn't tell you so
Did you believe that lead was gold
That Alt-A would be never sold
And that incomes were real on the forms

Well now the writings on the wall
Your investors got a big shortfall
Now HRs got your number
Cos you couldn't get more dumber

You're now a lonely poor unwanted buck
With a c.v. but no real pluck
But you knew were out of luck
The day the CDO died

And we were singin'
Bye-bye, mister CDO guy
You piled the paper on
When the market was high
And the 2 and 20 made your living so fine
Singing "CDOs will keep me alive
CDOs will keep me alive'

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