One of my longtime blog readers, who goes by the classic nom de plum "Joe Skeptical" in his frequent responses to my musings, actually posted a poem this week in the comment section of our July 27 article about AIG's property and casualty insurers rebranding yet again–this time reborn as "Chartis." I don't believe I've ever seen one of our readers driven to poetry to express his views! I post the poem below for your reading pleasure:
There comes a new chap called Chartis
Will it be just the same bunch of artists?
With rate cuts their game
But a new name to make fame
Will it ever survive to be smartest?
(Next Stanza)
Taxpayers have spent lots of money
Will we ever have any fresh honey?
Or will Chartis be cheesy
In the world of SPV
And eat carrots just like a Bugs Bunny?
(Third Stanza)
The debt that is left is huge
Is the taxpayer just a big stooge?
Market competition
And fierce oppostion
Will set the stage for the news.
(Fourth Stanza)
Many got rich very fast
For taxpayers so far it's the shaft
You gotta ask Hank
On his way to the bank
Does the Fed think we're all so daft?
(Final Stanza)
Time will unwind the whole story
Some buyers may not want to worry
But we'll know in the end
Whether Congress intends
To stew just a very bad curry.
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