Two Friends – Fannie and Freddie (from the Financial Crisis Talk Show – On Air November 12, 2011)

A poem – emphasizing and poking fun at the reality that the banking industry is the benefactor of the Fannie and Freddie Mac bailout that as of this date is at $156 Billion dollars of taxpayer money. All indications point to a settlement of the Fannie and Freddie Mac lawsuit against the major banks in the $25-29 Billion Range. Guess who will cover the loss of $126 Billion – plus??

Fannie & Freddie *** Two Friends

By Ken Gross

November 12, 2011

 

Once upon a time in our great land

Two friends to all  –

Fannie and Freddie sat on a wall

But then came a crises and they both took a great fall

 

All the King’s financial wizards, banks and good men

couldn’t put Frannie and Freddie  back together again

 

Their best friends – the banks – then cried “oh no”

Because without their great friends to buy their bad loans

All the great loss would be on their bones

 

But with the magic of political debate

And a 147 billion of taxpayer loot in the crate –

they assembled Fannie and Freddie back together again

 

Now their great friends are again covering their loans

Leaving all of us with nothing but moans

So now all they need is to settle the score

And the scam no doubt  will become lore

 

Though some complain it matters not

The deal will be cut behind doors that are closed

At a cost that’s a mere pittance against the billions lost and foreclosed

 

But considering these days –  it’s certainly not

much a surprise …

As we watch them silently laugh in our face

 

One thing is certain – it’s a disgrace

for the whole human race

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