Wall Street Christmas Carols
                                        December 24, 2008 
                                          by Cindy Shaw


                  'Twas the months before Christmas, when all through the land,
                             A financial crisis got way out of hand;
                           Bernanke and Paulson to the rescue did sail,
                          And yet nonetheless, Lehman Brothers did fail.

                          The fed-funds rate was quite aggressively cut,
                        Yet consumers' pocketbooks still were snapped shut;
                        As Congress approved hundreds of billions for TARP,
                             The taxpayers did most vociferously carp;
                       Financial firm bail-outs happened throughout the land,

                           Auto CEOs, too, asked for a big helping hand;
                            But flying to D.C. in their corporate jets,
                       Was a gaffe with Congress, which soon caused regrets.
                             Helicopter Ben tried quantitative easing,
                       Yet credit markets remained quite close to freezing;

                          When, who to our wondering eyes should appear,
                             But Senator Obama, dispelling some fear,
                       On infrastructure and more, he said he would spend,
                          So the battered economy could start to mend.

                           The new president-elect swiftly took aim,
                           And Cabinet and staffers he began to name;
                     "Now, Summers! now, Geithner! now, Holder and Bob Gates!
                          On, Hillary Clinton, for Secretary of State!"

                      Though Obama's announcements could make markets rally,
                              During George W.'s White House finale;
                          Fear and deleveraging caused investors to sell,
                           Prices of stocks and other risky assets fell;
                          And flights to safety made Treasury prices soar,

                      Sending T-bill and bond yields down through the floor.
                            As is common in the bursting of bubbles,
                           What was hottest had the biggest troubles;

                        Politicians called for more stringent regulations,
                            And the FBI launched fraud investigations.
                          Helping out now are the prices of gas and food,
                           Which recently had consumers coming unglued;

                            Though as of late a respite in inflation,
                            Provides to consumers a bit of salvation;
                            Yet with the economy on a slippery slope,
                          We worry about the future, and how we'll cope;

                          After more than a year of gloom, doom and fear,
                            It can be hard to feel any holiday cheer;
                       Stock prices 'round the world went down by nigh half,
                           Leaving many frightened and unable to laugh;

                              And while your 401k may be in tatters,
                          For happiness, money is not what most matters;
                          For retailers, yes, this holiday will be tough,
                            But the holiday spirit is not about "stuff";
 
                          Enjoying the company of loved ones and friends,
                            Is worth far more than a new Mercedes Benz.
                              Remember billions are hungry or at war,
                            To understand you're the opposite of poor;

                               Try giving money or time to charity,
                            To gain perspective and priceless clarity;
                          In spite of this economy, which truly is dour,
                             Feeling holiday joy is within your power;

                         So then let us exclaim, "In this season delight,
                         Happy Holidays to all, and to all a good night."


Deal Journal has been collecting various examples of Wall Street witticisms and holiday verse, so 
we give a tip of the hat to Cindy Shaw, a global investment strategist with based in San Francisco. 
Her well-metered take on Clement Clarke Moore's "Night Before Christmas" is a reminder of what 
there is to be grateful for this year. 



                                     在圣诞节到来前的几个月，
                                   金融危机正在这片土地上肆虐；
                                  贝南克和鲍尔森的确伸出了援手，
                                    雷曼兄弟依然难逃倒闭厄运。

                                      联邦基金利率降了又降，
                                      消费者依旧是囊中羞涩；
                                 国会批准了数千亿美金的救助方案，
                                    纳税人指手画脚地大加挑剔；
                                    对金融机构的救助如火如荼，

                                     汽车公司的老板伸手求救；
                                   但乘坐着公司专机来到华盛顿，
                              他们在国会遭到羞辱，只能匆匆道歉祈求。
                                 "直升机贝南克"极力尝试定量宽松，
                                      信贷市场依然一片冰冻；

                             就在这时，我充满疑惑的眼前会有什么出现？
                            噢，原来是参议员奥巴马，他让阴霾有所消散，
                             在基础设施等诸多领域，他说他将增加支出，
                                      羸弱的经济将得到修复。

                                      当选总统很快心有所向，
                                        开始着手调兵遣将；
                               萨默斯、盖纳、霍尔德和鲍勃 盖茨听令！
                                   还有希拉里，你来担任国务卿！

                                     就在布什总统的最后一班，
                                 尽管奥巴马的讲话让市场短暂反弹；
                                但恐慌和去杠杆化让投资者大肆抛售，
                                  股票和其它风险资产仍跌跌不休；

                                   寻找避风港湾让国债价格飙升，
                                     它们的收益率跌至了谷底。
                                    最火爆的也暗藏最大的麻烦，

                                     这在泡沫破裂时屡见不鲜；
                                       FBI展开了欺诈调查，
                                    政客们也纷纷要求加强监管。
                                     汽油和食品价格终于回落，
                                  不久前它们还令消费者心烦意乱；

                                        通胀压力暂时消退，
                                     消费者不再对此长吁短叹；
                                       不过经济出现了滑坡，
                                  我们担心未来，将如何应对挑战；

                                  经过一年多的压抑、苦闷和恐慌，
                                    可能很难感受到节日的阳光；
                                       全球的股价都已腰斩，
                                      惊惧之下怎能露出笑脸；

                                  尽管你的退休计划可能会很受伤，
                                  但相对于快乐，金钱却并非至上；
                                    零售商的这个假期的确艰难，
                                      但假日精神却不应遗忘；

                                   与你的至爱亲朋共度美好时光，
                                     这比奔驰车更加值得拥有。
                                请记住还有几十亿人面临饥饿和战火，
                                     要看到你比他们更为富有；

                                     为慈善献上点时间或金钱，
                                换个角度，心中就会打开另一片空间；
                                        经济尽管依然黯淡，
                                  感受假日快乐却掌握在你的手间；

                             因此让我们大声祝祷，在这个快乐的季节里，
                                   祝大家圣诞快乐，孩子们晚安！