After The Libertines split up, Carl Barat formed Dirty Pretty Things with The Libertines drummer Gary Powell, while Peter Doherty formed Babyshambles. The beginning of the song is talking about the days in The Libertines. They were the elite of the British scene and had high hopes in America, but soon after getting a touch of the limelight couldn't perform in the States due to Doherty's addictions. The chorus is looking back on how they paid their dues, and how it was time to move on before the whole scene came crashing down.
Justin - Georgetown, IN