Fannie and Freddy Were Lenders

by

It was only a matter of time! It’s a time honored tradition for “folk singers” to make up topical songs to old tunes, usually tunes that everyone knows. Consider this as the modern equivalent of Casey Jones, or the Titanic songs. This one also happens to be a parody of Frankie and Johnnie (Or in our Anthology, “Frankie and Albert”, in addition to borrowing the tune. Very few of these survive, of course–only the best and most universal. So I don’t have much hope for this one by Fred Stanton. But it serves its purpose for today.

Fannie and Freddie

Fannie and Freddie were lenders,
Oh Lordy, how they could lend.
Took George Bailey out on a bender
He thought they were his fuzzy friends.
They’re not your friends and they done you wrong.

George Bailey got soused on their beverage—
Red ink and lemon Kool Aid.
Fannie and Freddie got leveraged,
While the Wall Street pipers played.
They’re not your friends and they done you wrong.

George fell behind on his payments,
In hock to the Savings and Loan.
Fannie Mae promised to save him,
Wheeled and dealed with George’s home.
They’re not your friends and they done you wrong.

George used to think there were angels,
He don’t believe that no more.
It happened the night before Christmas,
The sheriff at George’s door.
They’re not your friends and they done you wrong.

The market is high on the eggman,
The walrus will cure Wall Street’s gloom.
Pump a jillion dollars on a pile of crap,
It smells like Fannie Mae’s perfume.

They’re not your friends and they done you wrong.

Bear Stearns is bullish on bailouts,
Rich folks are raking it in.
Freddie and Fannie got handouts.
George Bailey is taking a swim.
They’re not your friends and they done you wrong.

In solidarity,
Fred Stanton

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