Fannie Mae and Freddie Mac were and are the children of Barney Frank and Chris Dodd. And a gravy train for Democrat apparatchiks, who gave themselves million dollar bonuses and taxpayer paid vacations in all the world’s exotic places. The principal function of Fannie and Freddie was to provide government backing to mortgages issued to people who could not possibly pay the mortgage, under the guise that by doing so would turn those people into middle class folks and thus solve the problems of the inner city ghettos while ensuring those people remained solid Democrat votes. And when the mortgages did not get paid, and the government backed mortgages defaulted, the financial crisis of 2008 was upon us. To the tune of that old standard Frankie and Johnny, new lyrics.
Fannie and Freddie were sweethearts
Lordy how they loved cash
Swore to be true to each other
Dems they loved but Republicans trash
Frank was their man, but they done him wrong
Now Frank went down to the corner
To get a bucket of votes
He said to the gay bartender
Man I got em by the throats
They were his friends, but they done him wrong
Well I don’t want to cause you no trouble
Said the barkeep, when shove comes to push
I seen Fan and Freddie bout an hour ago
And they was strollin’ ‘long with Georgie Bush
You were their man, but they be doin’ you wrong
Then Frank went home in a hurry
He didn’t go there for fun
He hurried home to get a hold
Of his boyfriend’s shootin’ gun
He was their man, and they done him wrong
Well that was the end of the story
Fan and Freddie continued Frank’s way
Continued to bust out the country
Giving loans to those who couldn’t pay
He was their man, and he done us wrong