an exaggerated metaphor for the downfall of the friend--probably first financially, followed by his death, likely by suicide. The man ponders, and the omniscient speaker asserts that the reason the man was now contemplating that lost friend was in part because of a "freezing Santa Claus," who was collecting donations "upon the corner," no doubt, for the Salvation Army. The Santa is decked out in "his beard," and he is ringing a bell.
from Linda Sue Grimes: Suite101.com: Edwin Arlington Robinson's Karma
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