A Hedge Fund Show Tune: Ditty Lampoons Magnetar's 'Betting Against The American Dream' (VIDEO)
share this story
As part of their segment this week on the hedge fund Magnetar, This American Life and Planet Money asked Broadway composer Robert Lopez to write a show tune capturing the fund's role in the financial meltdown.
Sung by John Treacy Eagan and Christian Borle in this fun video, the song succinctly explains how Magnetar concocted highly risky collateralized debt obligations (CDOs) while simultaneously betting that they would fail. When the housing market crashed and the value of the CDOs plummeted, Magnetar got rich.
"All we got to do, to make or dreams come true," they sing, "is bet against the American dream!"
Check out the full This American Life episode here.