RIP Heath Ledger, a talented actor who died far too young. Also, RIP Suzanne Pleshette and Brand Renfro. This video is for you.
The song is by the Jim Carroll Band. Interesting trivia about Jim Carroll can be found on Wikipedia:
Carroll can be heard ordering double Pernods and inquiring about Tuinol on The Velvet Underground's 1972 live album Live at Max's Kansas City, based on an audience recording made by Brigid Polk. Carroll was holding the microphone.