"I don't know why, but I always liked that song, until I decided it's moral outlook was a little flakier than I could be comfortable with...so sighing"
Reed did the whole song as a piece of humor.....he was just observing how bizzare NYC street life was in the early 70's. I still think it is funny, but I admit it exemplifies moral depravity ;-)
But it has just such a great jazzy rock sound....