Song Parodies -> "No Money Down"

Original Song Title:

"Blow the Man Down"

Original Performer:

"No Money Down"

Parody Written by:

The Lyrics

This is the first day of February, Black History Month. It is common knowledge that Black people and other minorities buying homes was the cause of the last recession and housing collapse. This parody, however, suggests that big banks,unscrupulous mortgage brokers, bond ratings companies and even the great Greenspan himself may have been at least PARTIALLY to blame.

No money down bullies, no money down
Way hey, no money down
We gave him a mortgage so big that he’d drown
We sold him a house with no money down

He didn’t have work or a nickel to spare
Way hey, no money down
But we got our fees and that’s all that we care
We sold him a house with no money down

We bundled the mortgages to CDO’s
Way hey, no money down
What the hell they are well nobody knows
We sold him a house with no money down

Moodys was there to make profits look big
Way hey, no money down
They helped put the lipstick right onto that pig
We sold him a house with no money down

The fed chair said “wing it”so that’s what we chose
Way hey, no money down
With triple A ratings we smelled like a rose
We sold him a house with no money down

No money down bullies, no money down
Way hey, no money down
We gave him a mortgage so big that he’d drown
We sold him a house with no money down

He can’t make the payments and feels like a clown
Way hey, no money down
A few more foreclosures and we’ll own the town
We sold him a house with no money down

It’s Twenty-eleven now money is tight
Way hey, we have skipped town
We won’t make a loan cause it wouldn’t be right
And we don’t care how much you put down!

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Patrick - February 01, 2011 - Report this comment

Local public TV showed a small house in Kansas City, value about $30,000. Bank raised the mortgage payment, old lady moved out. House ended up in package deal bought by Deutsche Bank. Drug dealers moved in, sold the plumbing pipe and electrical wiring for scrap metal prices. House ended up being demolished at taxpayer expense. Solution: treat house as consumer product, same as car, not as a bank account.

Old Man Ribber - February 01, 2011 - Report this comment

Squire - I have an excellent recording of your fine parody by that famous folk trio Fannie, Freddie, and Barney! As for The Great Greenspan, I think that maybe The Great Guildersleeve might have done a better job. A truly nice job here. ;D

Tommy Turtle - February 01, 2011 - Report this comment

Your analysis was far more complete than Merry & Pippin's that was also posted today, but still misses the *root* cause: The Community Reinvestment Act passed by Pres. Jimmy Carter in the 70s, and "strengthened" by Bill Clinton in the 90s, which *forced* banks to make these loans.
Rather than repeat my entire comment to them, please read it at their song,
http://www.amiright.com/parody/60s/beegees24.shtml
and if you like, get the *full* story at moi's parody that is linked at the bottom of TT's comment. 555

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