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Daley And Chicago Olympics Bid Lampooned In Song (VIDEO)

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A new music video mocking Mayor Daley and the city's 2016 Olympics bid is making the rounds this week.

Good King Rich was recorded by the Blue State Cowboys and is dedicated to the International Olympic Committee, which is just months from naming Madrid, Rio de Janeiro, Tokyo or Chicago as the host the 2016 games.

Songwriter Matt Farmer, a Chicago lawyer who plays music-- both serious and satirical--as a hobby, said he wrote the tune late last month, after Daley promised the IOC that he would sign a contract guaranteeing financial responsibility for the Games.

"I was annoyed as a Chicago taxpayer that the mayor made a unilateral decision without consulting the City Council to take on all the financial liability for the games beyond the $500 million already allocated," Farmer said. "It seems like a risky venture when our city can't even fill potholes."

Daley has since tried to amend his statement following public outcry and City Council pushback. And the bid committee announced Tuesday that it will hold public meetings around the city to address public concerns about the bid.

Those moves are too late to escape the wrath of the Blue State Cowboys. Watch the music video for Good King Rich:

Good King Rich isn't the BSC's first foray into satire. Listen to a song commemorating the end of George W. Bush's presidency here and one on former Gov. Blagojevich's arrest here.

"When the mood hits me," Farmer said, "I put pen to paper."