The Great Gatsby

The Great Gatsby, racy pasquinade

Could you please tell me the meaning of "racy pasquinade" in the last chapter of The Great Gatsby?

Most of those reports were a nightmare—grotesque, circumstantial, eager and untrue. When Michaelis's testimony at the inquest brought to light Wilson's suspicions of his wife I thought the whole tale would shortly be served up in racy pasquinade—but Catherine, who might have said anything, didn't say a word.

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Racy here has to do with something being "sexual, wanton, or just gossipy." Pasquinade is a published version, often posted somehow that tells the details of someone's life or "business" that all people get to see; it is often satiric in tone.