Merle Hazard

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Parody lyric by David Shayne, Kay Gardiner, and Merle Hazard

As the sun burns
At Georgica beach, one windy morn
A mortgage bond trader sits forlorn
In the Hamptons
(In the Hamptons)

And his stomach churns
‘Cause if there’s one thing he can’t sustain
It’s keeping up the house on Lily Pond Lane
In the Hamptons
(In the Hamptons)

Ben Bernanke can’t you understand
Wall Street needs a helping hand
Or there’s gonna be a nasty recession some day
Fed gov’nors don’t you see?
We’ll lose three points of GDP!
The working man gets hurt the worst
If you don’t save…the rich ones first

Now the CMOs
And the other mortgage-backed securities
Are getting marked down to market, causing much unease
In the Hamptons
(In the Hamptons)

As the cycle turns
A mortgage bond trader with a pretty wife
Gets a mortgage of his own to maintain his life
In the Hamptons
(In the Hamptons)

Then one day in desperation
He bets on interest rates.
He thought the Fed was holding strong
But they cut half a point, and his trade went wrong.

Now the ink is red
Bond-trading man gets fired, of course
And the lawyer for a pretty lady files for divorce
In the Hamptons
(In the Hamptons)

Milton Friedman said
That the central bank, which he didn’t trust
Is itself the greatest cause of the boom and bust
In the Hamptons
(In the Hamptons)

In the Hamptons, oh yeah!

“In the Hamptons” is a parody of the song “In the Ghetto,” by Mac Davis. Parody lyric copyright 2008 by Shayne, Gardiner & Hazard.