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I am Changing My Name to Fannie Mae; Plus: the Blind Leading the Blind
"I'll get mine."
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As markets plunge and bailout-mania rises again, Arlo Guthrie’s timing is just right.

He’s got a new ditty that sums it all up: “I am changing my name to Fannie Mae.” (It’s a takeoff on Tom Paxton’s “I am changing my name to Chrysler.)


Lyrics by Tom Paxton

Oh the price of gold is rising out of sight

And the dollar is in sorry shape tonight

What the dollar used to get us now won’t buy a head of lettuce

No the economic forecast isn’t right

But amidst the clouds I spot a shining ray

I can even glimpse a new and better way

And I’ve devised a plan of action worked it down to the last fraction

And I’m going into action here today


I am changing my name to Fannie Mae

I am going down to Washington D.C.

I’ll be glad they got my back

‘Cause what they did for Freddie Mac

Will be perfectly acceptable to me

I am changing my name to Fannie Mae

I am headed for that great receiving line

So when they hand a trillion grand out

I’ll be standing with my hand out

I’ll get mine

When my creditors are screaming for their dough

I’ll be proud to tell them all where they can go

They won’t have to scream and holler

They’ll be paid to the last dollar

Where the endless streams of money seem to flow

I’ll be glad to tell them all what they can do

It’s a matter of a simple form or two

It’s not just remuneration it’s a liberal education

Ain’t you kind of glad that I’m in debt to you


Since the first amphibians crawled out of the slime (of the slime!)

We’ve been struggling in an unrelenting climb

We were hardly up and walking before money started talking

And it’s sad that failure is an awful crime

It’s been that way for a millennium or two

But now it seems that there’s a different point of view

If you’re a corporate titanic and your failure is gigantic

Down in Congress there’s a safety net for you


Hat tip:


The blind are leading the blind. If this doesn’t send chills up your spine, you’re not paying attention:

Asked if Pres. Bush thinks there should be a timeline or incentive for a future administration to ever sell the $250 billion in bank shares it plans to buy as part of the bailout plan back to the private sector, White House Press Secretary Dana Perino told Staff Writer Fred Lucas that the Treasury Department is entrusted with the matter.

“The president is trusting his team at Treasury who designed the program, and he believes they are doing it the right way,” Perino told Lucas at Thursday’s press briefing. “I don’t have details. We’ll just trust our treasury secretary to implement the program.

Trust Hank Paulson? Hello?

(Republished from by permission of author or representative)
• Category: Ideology • Tags: Subprime crisis