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{{a|popsong|{{image|Memphis slim|jpg|Mr. Slim, yesterday}}<br>{{popsong|Lend Me Your Love|Memphis Slim|3222785}}}}Memphis Slim’s [[Lend Me Your Love]] is, like Billy Idol’s [[Rebel Yell]] a fine example of a lyric that correctly, if metaphorically, employes technical legal terminology. Mr. Slim was evidently often in the business of [[Borrow|borrowing]], [[rehypothecating]] and possibly [[Short selling|short-selling]], his affection. He sings: | |||
{{popsong|Lend Me Your Love|Memphis Slim|3222785}}Memphis Slim’s [[Lend Me Your Love]] is, like Billy Idol’s [[Rebel Yell]] a fine example of a lyric that correctly, if metaphorically, employes technical legal terminology. | |||
:''Now [[lend]] me your love, little girl, please [[lend]] me your love <br> | :''Now [[lend]] me your love, little girl, please [[lend]] me your love <br> | ||
| Line 9: | Line 8: | ||
:''But someday I be lucky enough to find another woman, <br> | :''But someday I be lucky enough to find another woman, <br> | ||
:''Gonna buy your [[love mortgage]] out<br> | :''Gonna buy your [[love mortgage]] out<br> | ||
We quite like how fastidious Mr Slim is in extending the [[metaphor]], even when it has apparently run out of road, talking in terms of ''refinancing'' a love mortgage with another, er “lender”. We wonder, vaguely, whether one is able to repay a maturing love loan [[Payment in kind|in kind]]? | |||
===Transaction analysis=== | ===Transaction analysis=== | ||
The transaction seems to be this: | The transaction seems to be this: | ||
*Baby agrees to lend a quantity (unspecified) of love to Memphis Slim. | *Baby agrees to lend a quantity (unspecified) of love to Memphis Slim. | ||
*As [[collateral]] [[security]] for his obligation to return her love, Mr. Slim grants Baby a [[mortgage]] over his own love, which for the time being, he is holding on his own balance sheet. | *As [[collateral]] [[security]] for his obligation to return her love, Mr. Slim grants Ms. Baby a [[mortgage]] over his own love, which for the time being, he is holding on his own balance sheet. | ||
*We surmise that Mr Slim is intending to take Baby’s love and [[reuse]] it elsewhere. | *We surmise that Mr Slim is intending to take Baby’s love and [[reuse]] it (or “[[rehypothecate]]” it, as our American friends might say) elsewhere. | ||
*Seeing as he has at least an equivalent amount of his own love which he is holding subject to a fixed charge, we | *Seeing as he has at least an [[equivalent]] amount of his own love which he is holding subject to a [[fixed charge]], we deduce that Baby’s love and Memphis Slim’s love cannot be [[fungible]] (otherwise this would be a transaction without any economic substance. Which would get Memphis Slim’s [[tax attorney]]s in a lather.) | ||
*While their respective loves might not be [[fungible]], Mr Slim contemplates buying out his obligations under the [[love mortgage]], perhaps with love received from this other woman, raising the prospect that | *While their respective loves might not be [[fungible]], Mr Slim contemplates buying out his obligations under the [[love mortgage]], perhaps with love received from this other woman, raising the prospect that the love of one woman might (in Mr Slim’s [[Legal opinion|opinion]], at any rate) be freely exchangeable, strongly [[correlated]] [[mark-to-market]] values, if not outright [[fungible]] with the love of another. The [[JC]] prefers not to speculate. This sounds less than ideal — sub-prime, so to speak. | ||
{{popmangle}} | {{popmangle}} | ||
*[[Rebel Yell]] | *[[Rebel Yell]] | ||