Tuesday, April 8, 2008

Leiber and Stoller Take on Miller and Modigliani

We last visited Peggy Lee in Market Reaction to the Fed: Is That All There Is? Then Let's Keep Shorting.*
Here's Barron's:


Peggy Lee sang those words nearly four decades ago, but they were written by the improbable team of Jerry Leiber and Mike Stoller, two white guys who took to rhythm 'n blues in the early 'Fifties. Then, they wrote "Hound Dog" for Big Mama Thornton, which was covered by a nobody named Elvis Presley.

Leiber and Stoller went on to write hits during the early Rock 'n Roll era for the likes of the Coasters and the Drifters, culminating with "There Goes My Baby" with Ben E. King. These symphonies for teeny-boppers, as they referred to them, provided the apprenticeship for Phil Spector, who created the great "Wall of Sound" productions of the early 'Sixties.

Following all those hits, the spare "Is That All There Is?" was especially ironic. If you don't remember the song, after the various trials and tribulations of life, Miss Peggy Lee (as she wanted to be referred to) sang, "if that's all there is, my friend, then let's keep dancing, let's break out the booze, and have a ball."

That's all I can think of after the equity and credit markets have bounced back in the past couple of weeks. If indeed that's all there is after the biggest credit bubble in history, then let's party....MORE

*Here's the video. And for those in a coarser mood we had:

I make my living off the evening news
Just give me something, something I can use
People love it when you lose, they love dirty laundry
Kick 'em when they're up, kick 'em when they're down
Kick 'em when they're up, kick 'em when they're down
Kick 'em when they're up, kick 'em when they're down
Kick 'em when they're up, kick 'em all around

Here's a live version.