On Monday we celebrate labor
Whether you, your wife, or your neighbor
So let’s give a shout
And push the kid out!
Can’t believe what I heard on the phone
I have assets and own my own home
My score’s 808
So my credit is great
Why can I not get a Beacon Hill loan?
That carpet was horribly rank
The fridge just totally stank
There was trash all about
And the power was out
This apartment must be owned by a bank
To buy a condo in Boston
you better prepare to do battle;
with multiple offers
and money in coffers
and nerves that don’t easily rattle.
Bank Failure Analysis
The credit crunch left deadly traces
On banks found in high and low places;
The research clearly shows,
As many suppose,
Loans on homes were to blame in most cases.
The Smiths, of 212 West Cedar Street,
Thought their mortgage a terrible strain;
They defaulted and then
Moved next door to Mytrle St,
Where they rent and are solvent again.
US consumer debts’ lightening
Has been a result of COVID’ tightening,
But those falling exposures
Have tracked loan foreclosures,
Which leads to conclusions more frightening.
A broker who pondered intently
That bankers abound evidently,
Found it hard to discern
What they all did to earn
The Beemer, the Benz or the Bentley.
I can’t pay, no matter I tried,
A mortgagor woefully cried;
So there’s nothing to do
But to grab a cold brew
As I hit the emergency slide.
Further Fannie Mae bailouts, admittedly,
In the billions may seem like stupidity,
But less welcome, perhaps,
Is the market collapse
That would follow withdrawal of liquidity