It was bound to happen, right? The folks behind the wildly successful musical “Avenue Q,” with subject matter that runs the gamut from paying bills to fretting over the practicality of an English degree, have written a song whose lyrics sound eerily like what Goldman Sachs had a hand in. Specifically, creating a structured investment product, letting a prominent hedge fund manager have a say in its creation and selling that product to customers while at the same time the hedge fund manager bets on his creation to fail.
If CDOs and mortgage-backed securities aren’t the stuff show tunes are made of, I don’t know what is.
Here’s a link to the song.
“The housing market’s losing steam
And all we gotta do
To make our dreams come true
Is bet against the American dream.”