I haven't the strength to read through the whole thread, so maybe somebody already said this--but anyway:

"Jacomo fino" means that James is dead. You got "Jacomo finane" from an extra nonsense syllable tacked on the end: "Jacomo fino, eh!"

The reason it's important that the old grouch has kicked the bucket is that he was a real curmudgeon and didn't believe in allowing all the shenanigans that people liked to indulge in when celebrating Mardi Gras. Now that he's gone, we can let 'er rip.

    Jacomo fino, hey, hey, hey;
    Have more fun on holiday ....

               Wild T.

The Jacomo in question was a real person in New Orleans, and somewhere I have more info on this stashed away, but I have to find motivation to look for it. :)

So there you go.

Chicken Charlie/Charles Poulet