With apologies to William Mcgonagall

Profuse apologies to the world's best worst poet.

Twas in the year of 2008 in the month of September

Which the bankers of the world will long remember

For they did not act, as one would to a brother

In refusing to extend credit, one to another

For fail it did, the Bradford and Bingley

And we began to fear the banks would not go singlely

And collapse like a great house of cards

Or shatter like a mirror into millions of shards

Citigroup bought out the failing Wachovia

But that was not the last emergency takeover

The Halifax Bank of Scotland it had to be rescued

And the passage of the bailout plan by the US congress badly miscued

The Germans paid 35 billion Euros to Hypos Real Estate

And Glitnir was nationalised by the Icelandic State

Fortis of Benelux met, partially, with the same fate

All with little time for debate

This should never have happened according to some

Taxpayers will be paying for years to come

We must better regulate the banks, if only we are able

And next time we must listen to Vince Cable