Wading through the pages and pages of documentation associated with litigation stemming from the sub-prime mortgage crisis always throws up entertaining email exchanges between bankers. The infamous "Boy, that Timberwo[l]f was one shitty deal!" from Goldman Sachss Tom Montag has gone down in industry folklore, as have comments from the previously fabulous Fabrice Tourre.
The Department of Justice suit reveals a far more harmonious workplace that encouraged one employee, Analyst D, to email a song to his colleagues in March 2007 pointing out the weakness already evident in the US mortgage market. We will spare you the full horror here, suffice to say that it included gems such as "subprime is boi-ling o-ver", "CDO bizhas a bother" and "Hey you need a downgrade now, Freemont" to the tune of Burning Down the House by the Talking Heads. In a touching moment of self-realization the analyst hurriedly sends a second message that states: "For obvious professional reasons, please do not forward this song." However, he then follows this up with the rather desperate: "If you are interested, I can sing it in your cube."