During my time as an MBA student, doctoral candidate, and faculty member in US business schools, one of the funniest spectacles I ever watched was the yearly management follies. Typically these involved the creation and presentation of several parodies and skits, many of which lampooned the school's faculty, administrators, and leadership, sometimes mercilessly.

What I found most amazing about the follies was just how good they were. What I mean when I say good is that I laughed as hard and as frequently as I would at a good sit-com, a stand-up comic, or an episode of Saturday Night Live. The topic matter might be a little drier than Hollywood fare, but the humor was usually every bit as good and the sarcasm just as biting. Knowing full-well that the stereotype of businesspeople as stiffs in suits is very wide of the mark, it was with considerable joy that I greeted this email sent by a colleague today:

From the Columbia Business School Follies... (a video that) makes fun of the fact that the Dean of the Business School, Glenn Hubbard, former chairman of the Council of Economic Advisers to the President, wanted to be Fed chairman. CBS refers to Columbia Business School. Apparently, the student who "plays" Hubbard is an uncanny look-alike of a young Hubbard.

The Youtube video above is entitled "Every Breath Bernanke Takes." In it, "Hubbard" expresses his sorrow at not being chosen to head the Fed. You don't have to have an MBA or PhD in monetary policy to appreciate the humor, but it might help.