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The credit markets are a mess, private equity firms are stuck, stocks are getting hammered (except for today’s” Thanks Fed, Friday“), and hedge funds are falling apart.

Enter, “Merle Hazard” who lightens up the mood with a Country-Western song he penned titled “H-E-D-G-E” (with a tip of the hat to Tammy Wynette’s “D-I-V-O-R-C-E”). Hazard is “an extraordinary country singer whom you won’t remember, but you’ve heard him before,” according to the AAO Weblog, a blog published by Jack Ciesielski about accounting issues and news topics related to investment and finance.
    
Indeed, hedge funds in particular are feeling the credit crunch, as they’ve spent gobs of money investing in subprime mortgage securities and high yield debt. Bear Stearns, Goldman Sachs, Sowood, are among those feeling the hedge fund heat, thanks to the subprime meltdown and ensuing credit crunch. It’s left poor Mr. Hazard with the blues, and some inspiration (may we suggest he invest in upgrading his recording studio instead of his alternative asset portfolio).
  
The New York Times’ Dealbook suggests Hazard follow up with a song titled “I May Be Accredited, But I’m Still Up the Creek.”
    
C’mon, it’s Friday. Lighten up pardner.

(Photo. Merle Haggard. Reuters file)