Beware The Coming Bank & Credit Crisis the Second Half of 2024
The Charge of The Bank Brigade
A sad parody of the famous poem by
Alfred Lord Tennyson
By Richard Benson
rbenson@specialtyfinance.com
I
Half a league, half a league,
Half a league onward,
All in the valley of default
Rode the six hundred
“Froward the Bank Brigade!
Charge for the CDS” he said
Into the Valley of default
Rode the six Hundred
II
“Forward the Bank Brigade!”
Was there a man dismayed?
Not though the bankers knew
The Fed had blundered
Theirs not to make reply,
Theirs not to reason why,
Theirs but to hold bonds and die,
Into the valley of default
Rode the six hundred.
III
High rates to the right of them
Inflation to the left of them
Bad loans in front of them
Volleyed and thundered,
Stormed at with shot and shell,
Boldly they rode and well,
Into the jaws of a Vol Spike
Into the mouth of hell
Rode the six hundred
IV
Flashed all their sabers bare,
Flashed as they turned in air
Sabering the Vol Shorts there,
Charging a dying Dollar
All the world wondered
Plunged in the battery-smoke
Right through the stops they broke;
Bonds & Stocks
Reeled from the sabre stroke
Shattered and sundered,
Then they rode back, but
Not the six hundred
V
High rates to the right of them
Inflation to the left of them
Bad loans behind them
Volleyed and thundered
Stormed at with shot and shell
While horse and hero fell.
They that had fought so well,
Came through the Jaws of default
Back from the mouth of hell,
All that was left of them,
Left of six hundred
VI
When can their glory fade?
O the wild charge they made
All the world wondered,
Honor the charge they made
Honor the Bank Brigade
Noble six hundred!