The chorus of Lorraine's song comes from Bill's favorite expression when he's in a curmudgeonly mood, which is, "Now, If I were Emperor of the Universe, ...." after which he makes a Pronouncement about the proper Solution to the State of Affairs under discussion.

I only mention this because if you've only seen him at the Getaway you may not have seem him in a curmudgeonly-enough mood to evoke said expression.