Frankly, Mr. Shankly, this position I've held
It pays my way, and it corrodes my soul
I want to leave, you will not miss me
I want to go down in musical history

Frankly, Mr. Shankly, I'm a sickening wreck
I've got the 21st century breathing down my neck
I must move fast, you understand me
I want to go down in celluloid history, Mr. Shankly

Fame, Fame, fatal Fame
It can play hideous tricks on the brain
But still I'd rather be Famous
Than righteous or holy, any day
Any day, any day

But sometimes I'd feel more fulfilled
Making Christmas cards with the mentally ill
I want to live and I want to Love
I want to catch something that I might be ashamed of

Frankly, Mr. Shankly, this position I've held
It pays my way and it corrodes my soul
Oh, I didn't realise that you wrote poetry
I didn't realise you wrote such bloody awful poetry, Mr. Shankly

Frankly, Mr. Shankly, since you ask
You are a flatulent pain in the arse
I do not mean to be so rude
Still, I must speak frankly, Mr. Shankly

Oh, give us your money !

The comical "Frankly, Mr. Shankly" is even more amusingly forceful when considering its placement in the track listing, inbetween the epic "The Queen Is Dead" and the bleakly beautiful "I Know It's Over". His arch comments on soul-less industry types contains a mere hint of his future seeming animosity towards the mentally disabled, most notably on Kill Uncle track Mute Witness.
Rumour has it that his portrait of a "righteous and holy pain in the arse" was a jab at sometime manager, Geoff Travis. Geoff replied to this accusation with : "Well, it's not a particularly charming thought, is it ? There's a huge amount of humour in the song and I'm not really upset by it. Camp spite ? I think there's a lot of that there, but I don't take it too seriously. Morrissey like to have some fun and that's what rock 'n' roll is about."
Apparently an unreleased version of this song exists featuring a synth trumpet line.

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