Loudon Wainwright Iii - The Capitalism Blues

The Capitalism Blues

I got the capitalism blues
'Cause we're capitalistic fools
And we're lucky if it stops at a recession

I got the capitalism blues
'Cause our capitalistic tools
Are leading the world to a depression

Let's make some giant loans
That are too big for the homes
And more than the buyer can afford

We'll give a real low rate
Right out of the gate
Knowing that next year the rate will soar

Then we'll get a Wall Street ghoul
To put it all into a pool
And "securitize" it into senior bonds

And shop at all the doors
Of all the rating stores
And pick the ratings of which we're most fond

And we'll get our triple A
Even though the bonds won't pay
But we'll sell them here and sell more across the pond

I got the capitalism blues
'Cause we're capitalistic fools
And we're lucky if it stops at a recession

I got the capitalism blues
'Cause our capitalistic tools
Are leading the world to a depression

When the mortgage loans default
While the short funds all exalt
The longs all make a very different sound

Because they bought with leverage
And when the prices start to hemorrhage
The walls around them all start falling down

And as collateral prices fall
They all get a margin call
And have to dump their bonds at the same time

Because everybody's got 'em
And no one sees a bottom
Buyers are impossible to find

[Chorus]

Lending disappears
Due to balance sheet fears
And the Fed and Paulson don't know what to do

They even make worse
'Cause even with their giant purse
It's clear that they haven't got a clue

Our stocks and bonds all plummet
A long way from their summit
Leaving us with nothing left to spend

And as companies don't survive
We watch unemployment rise
And we still don't know when it all will end

[Chorus]