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Interesting to see the Fugs and the Velvets (well, Lou Reed anyway) covered together like this. I vaguely recall that one or both camps used to put down or mock the other.
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I think that was probably true with them early on. Seems in 2010 Lou put on a benefit for Tuli, at least, according to this NYT piece: http://artsbeat.blogs.nytimes.com/2010/01/06/lou-reed-and-friends-to-play-benefit-for-tuli-kupferberg/
Total speculation: I could see Tuli and Lou appreciating each other, but Ed and Lou probably not very much.
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