(Tune of : Hava Nagila)

Fannie and Freddie, Fannie and Freddie, Fannie and Fred- Heroes of this refrain.     Fannie and Freddie, Fannie and Freddie, Fannie and Fred- Sit back and I’ll explain.

Once upon a time no joke, USA going broke. Unemployment, loans foreclose, housing crisis grows. Call goes to Uncle Sam, Bail us out of this jam, Tax dollars back bad notes, risky ventures float. That’s, how, this started, when  FDR with smoke and mirrors, hid that wheelchair masked these errors. Time to play let’s make a new deal, solved nothing but had a good feel. Bought the farm: Double meaning alarm! Fannie Mae’s born in’38

Fannie and Freddie, Fannie and Freddie, Fannie and Fred- Behind door # 3        Fannie and Freddie, Fannie and Freddie, Fannie and Fred- Your home loan guarantee

Say you don’t have one dime, ask for a loan subprime, high interest rates won’t spoil your day since you don’t plan to pay. Banks that should lift their nose, wish away the risk you pose, shazam: from the loan fairy, mortgage secondary. This, fairy tale worked till Viet Nam derailed the budget, LBJ needed to fudge it, privatized Fannie off the books, stock sells happy ever outlook. No tax no risk, a thin disguise... call it government sponsored Enterprise,

Fannie, just Fannie, LBJ’s new plannie,  ‘68 revampie: As the Enterprise        Well I’ll be dammy, things hit the Fannie, Causing this sham- Same year Star Trek demised.

Took two years, for them to see, Fannie’s a monopoly, so like the bride of Frankenstein, Freddie was built subprime. Exempt from tax and oversight, their misdeeds never see the light, we back their debts no questions asked, big shock we go broke fast. Still, their, big execs like to buy things with bonus money, fake the books take home more honey, bribe lawmakers, fund their campaigns, yes Obama, less to McCain. Herb Moses*, sends roses, to Barney Frank chairman of the House Financial Services Committee.

Herby and Barney, this is, no blarney, they’re the strange "bed fellows" politics can make.               So Sarah Palin’s, gay marriage ban’s in, to out Barney’s confliction, from Herb’s fannie Mae.

For years the euro guys had claimed, USA was old and lame, they passed us for number one and they had just begun. China, would pass us too, OPEC had more revenue, Russia Japan to name more, left us on the floor. No, longer would our economy dictate the world’s state, we could falter they’d celebrate, Fan and Fred made this fall happen, moral is the world stopped laughin, they fell worse, 'splains my first verse: They passed us on the way down, the USA is #1...

Thanks to Fannie and...