I think that this song takes place at the moment when William shows up to save Margaret. I agree with what some others have suggested for this album, that William is Isaiah, and I think that when William shows up, The Rake sees Isaiah and suddenly everything comes back to haunt him. William may even be the one singing the last verse but The Rake hears Isaiah. I don't think the Rake is killed. I just think that he remains hidden away wherever he is and is tormented by what he has done.
I think that this song takes place at the moment when William shows up to save Margaret. I agree with what some others have suggested for this album, that William is Isaiah, and I think that when William shows up, The Rake sees Isaiah and suddenly everything comes back to haunt him. William may even be the one singing the last verse but The Rake hears Isaiah. I don't think the Rake is killed. I just think that he remains hidden away wherever he is and is tormented by what he has done.