Freddie Mac (FMCC)

[Letgoofmyfannie]

Worldwide Release! New GSE Ballad: Steve the Nooch [Die Moritat von Steven Mnuchin]

A Moritat is the medieval version of a Murder Ballad performed by itinerant street singers; a genre fit for #Fanniegate, as every quarter Steve the Nooch steals the life out of Fannie & Freddie shareholders:

While waiting for my Stubbs & Woottens to arrive I wasted more time learning how to download video from Youtube, with predictable results...a song was needed and this one won. It has 24 chords and five key changes and so I'll apologize in advance:

Oh, the Treasury, has had four Secretaries
And they’ve all been thieves in the night;
A bazooka had Hanky Panky
Said he’d keep it out of sight

But when that shark bit with his teeth, dear
Boards of Directors lost their heads
Fancy Accounting methods were used
To say the GSEs were in the red

Taxpayers flew them to an eclipse
With Hermé and bags of Gooch
Someone's stealin' every quarter
Could that someone be Steve the Nooch?

The Reserves, ha, against losses
Every Quarter just a’ droppin' on down
Oh, the money’s just for protection
Five'll get ya ten old Hanky's back in town

Did 'ja hear 'bout Bobby Corker, retiring
With a hundred million cash
And the Nooch sweeps every quarter
Is our Treasury doin' somethin' rash?

Now Hanky Panky, oh, oh, yeah,
Timmie Geithner oh, and old Jackie Lew
The Reserves will drop to zero
What’s the Treasury…gonna do…?

Now Hanky Panky, oh, oh, yeah,
Timmie Geithner oh, and old Jackie Lew
The Reserves will drop to zero
What’s the Treasury…gonna do…?