The song describes a wealthy, misogynist student named Bobby Brown, "the cutest boy in town", whose life is the archetypical American Dream until a traumatic sexual encounter with "Freddie", a lesbian involved in the women's liberation movement, leaves him questioning his sexuality. He eventually turns gay and by the end of the song is a self-described "sexual spastic" involved in golden showers and S&M, for which he thanks Fred.
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