To the tune of ‘Minnie the Moocher’ by Cab Calloway
A Song about Aggie the Moocher
by Fred E. Foldvary, Senior Editor, March 23, 2009
Folks, here’s the story of Aggie the Moocher.She hurt us so much, we need a suture.
Aggie made big promises she couldn’t keep.
Now government is paying, as the taxpayers weep.
Howdy howdy howdy how!
How did Aggie make a pow?
Hoodie hoodie hoodie who!
Hey, who has to pay, boo hoo!
Aggie messed around with fake insurance.
They were those credit-default swaps.
But with mortgage bonds, there was no endurance.
Aggie failed to show up with the mops.
(hidey-hi's!)
She had a dream about being queen of Eden.
She thought the payments, would not be needin’.
And if the gold and steel should crack,
Of bailout money, Uncle Sam has no lack.
(hidey-hi's!)
Uncle gave Aggie many houses and horses.
The bonuses were like a dozen courses.
Aggie got millions of nickels and dimes.
Now people are saying the bailouts were crimes.
(hidey-hi's!)
What’s the lesson we can learn from Aggie?
Must taxpayers be left holding the baggie?
The mortgages were backed by the land,
But now we see this is nothing but sand.
Howdy howdy howdy how!
How to stop the Aggies, how?
Hoodie hoodie hoodie who?
Who has to pay, who, who?
If land values fall down to zero,
Then we’ll no longer fiddle like Nero.
If communities collect all the rent,
Then moochers like Aggie can’t make a dent.
(hidey-hi's!)
Whoah!
-- Fred Foldvary
-------------------------
Copyright 2008 by Fred E. Foldvary. All rights reserved. No part of this material may be reproduced or transmitted in any form or by any means, electronic or mechanical, which includes but is not limited to facsimile transmission, photocopying, recording, rekeying, or using any information storage or retrieval system, without giving full credit to Fred Foldvary and The Progress Report.
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Also see: Much of high finance lately has not been legal
Money to the People!
Property bubble leads to crash landing |
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