#BondAid - Do They Know It's Christmas?

It's Christmastime
There's no need to be afraid
At Christmastime
That CLO tranche is Triple-A

Now in a world of defaults
We done securitized 'em all
Slap a wrapper 'round that junk
It's Christmastime!

But say a prayer
Pray for the "liquid" ones
At Christmastime
It's hard when they gate their funds

Yeaaahhh...

The CDS spreads blew up
And we're leveraged to the hilt
And the only orders filling
Are for bunds, greenbacks and gilts

And the high yield market's ringing
With the clanging chimes of doom
Well tonight thank God it's them
Instead of you!

Well there won't be gains in Triple-Cs this Christmastime
That toxic waste, those bids are down at twelve...
Ooo-ooohhh...

Third Av & Stone Lion spoke
Their redemption windows broke
Do they know it's Christmastime at all?

Here's to you
Raise a glass to everyone
Here's to them
There's no flow for anyone
Do they know it's Christmastime at all?