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Robin Hood Issued Collateralized Debt Obligations to the Rich and Lent to the Poor

March 09, 2010

Or something like that.From A Gest of Robyn Hode, circa 1500. (Synopsis.) Hat tip to Chris Linder on MicrofinancePractice, who got it from an Indian paper, which got it from a book. My translations (caveat emptor) on the right:

‘Come nowe furth, Litell Johnn,And go to my tresour ,And bringe me foure hundered pound,And loke well tolde it be.’Furth than went Litell Johnn,And Scarlok went before;He tolde oute foure hundred poundeBy eight and twenty score.‘Is thys well tolde?’ sayde [litell] Much;Johnn sayde, ‘What gre[ue]th the?It is almus to helpe a gentyll knyght,That is fal in pouert .…‘Whan shal mi day be,’ said the knight,‘Sir, and your wyll be?’‘This day twelue moneth,’ saide Robyn,‘Vnder this gren -wode tre.…[He borowed foure hondred pounde,]Upon all his lond  fre;But he come this ylk  dayDysheryte shall he be.…‘Sir [abbot, and ye me]n of lawe,Now haue I holde my daye;Now shall I haue my londe agayne,For ought that you can saye.’…He wente hym forth full mery syngynge,As men haue tolde in tale;His lady met hym at the gate,At home in Verysdale.‘Welcome, my lorde,’ sayd his lady;‘Syr, lost is all your good?’‘Be mery, dame,’ sayd the knyght,‘And pray for Robyn Hode,‘That euer his soul  be in blysse:He holpe me out of tene;Ne had be his kynd nesse,Beggers had we bene.…This knight than dwelled fayre at home,The sothe for to saye,Tyll he had gete four hundred pound,Al redy for to pay.
Go Little Johnto my treasuryand get 400 quid.......Is this a good idea? said little MuchJohn said, What grieves you?It is alms to help a gentle knightThat is fallen in poverty.When do I have to pay back?.A year from nowUnder this tree.He had borrowed 400 pounds [from the Abbot]Mortgaging all his landUnless he comes back the same day a year laterDisinherited he shall be..Sir Abbot and men of law,Now have I held my dayNow shall I have my land againWhatever you may say............That ever his soul be in blissHe helped me out of griefHad it not been for his kindnessBeggars we would be..The knight then dwelt fair at home,Truth be told,Till he had saved up four hundred poundsAll ready for to pay.

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