OK, my analysis of the Emperor's segment. I C&Ped all the lyrics for context and highlighted the part in question.
I went out in the darkness
Just searching for someplace to be
Wasn't looking for trouble
I guess it was looking for me
And I knew I was wasting my time
But it was nobody's business
Nobody's business but mine
I was taking some comfort
I needed a break from the rain
I guess I was mistaken
And someone remembered my name
But I knew I was doin' just fine
And it was nobody's business
Nobody's business but mine
Well I guess for some
Revenge is sweet
Though it be once removed
I hope you feel better
I don't know what you proved
Well, yonder comes the Emperor, boys
He sure looks fine in blue
I hope you feel better, babe
I know you're scared too
Well it sure makes you wonder
The things that some people will say
They can see black and white but they
Don't seem to notice the gray
What a price for a victimless crime
When it was nobody's business
Nobody's business but mine
-----------------------------------------
I think the song is overall criticizing judgmental people, drama hounds, and those who love to hear about salacious scandals. It's similar thematically to Dirty Laundry in some ways but while Dirty Laundry is about the journalists who stir up drama, this song is about the people who eat that drama up. The reason the journalists go for sensationalism is because so many people enjoy it - it sells. Those people are Don's target here.
This song also seems more personal than Dirty Laundry. He stands outside of Dirty Laundry to criticize the media; in this song, he is the focus, the one who was wronged. He's been wronged by the segment of society that relishes scandal. He's angry about his loss of privacy, he's angry about how eager people were to think the worst of him, he's angry about the glee of some to see "how the mighty have fallen."
It's the glee many take when they see what they perceive to be an arrogant, dissolute, drug-addicted, drunken, sexually perverted, hedonistic rock star millionaire be brought low. We still see that today... isn't that what drives websites like PerezHilton.com and TMZ.com? They resent his success and they enjoy it when he suffers.
The revenge line is problematic in this context, but here goes: Perhaps it is that judgmental society that he feels is taking "revenge" on him - revenge in the sense that they took what they perceived to be his unrepentant attitude about his excesses and his shameless debauchery as an affront to society. They thought he deserved to have the arrogance kicked out of him. His "wrong" against them was his disregard for morality which disdained their moral code, and the vindication they felt when he fell was a form of revenge (once removed because they did not directly harm him, but took pleasure in it). They felt better because it made them feel superior, but what did they really prove?
Which takes us to the lines referencing "The Emperor's New Clothes." For those unfamilar with the fairy tale, here's how it goes:There's an Emperor who cares more about his own self-aggrandizement than he does about his kingdom. He wants to be superior in everything; the most powerful, the most intelligent, the most well-clothed. It is the latter that drives the story.
Two con men tell the Emperor they can make for him some clothes out of the finest material in existence. "This material is special," they say. "Only those who are noble and high-minded can see it. The ignorant, the unworthy - the material is invisible to them." They 'show' it to him. You can see where this is going... the Emperor pretends to see the clothes because he doesn't want people to think that he's ignorant and unworthy. Everyone follows his lead; everyone is afraid they will be thought lesser if they admit they can't see the clothes.
The emperor decides to have a processional through town to show off his new "clothes." He marches through the middle of the town buck naked, and everyone just keeps saying how wonderful his clothes are... until some kid hollers "The emperor has no clothes!" The illusion is blown. Although the Emperor keeps pretending, everyone else realizes the truth.
In my opinion, the main theme of this fairy tale is the dangers of conformity. It's about how many people will go along with popular opinion, even if it goes against their own judgment, rather than appear to be lesser than those who hold that popular opinion. "The fashionistas in New York say all the elegant women wear brown sacks. They call it 'edgy' and 'postmodern' and say that those who can't appreciate such concepts are unsophisticated and small-minded. THAT's not me! I'm going to go pay $6000 for a designer brown sack today!"
So, what does this have to do with its placement in "Nobody's Business"?
Good question! Here's one idea. The lines are followed by "I hope you feel better babe, I know you're scared, too." Perhaps he's noting how so many people went along with the idea that he did something awful even if the facts show he didn't, just because they were afraid to appear to be condoning someone who was perceived to be depraved. The "high-minded" people thought he deserved what he got, and so everyone went along with it and believed the worst.
This is all speculation and honestly I could be WAY off base. It's just what I came up with.