Let's call it "Haircuts and Workouts". I nominate either Steven Colbert or Paul Krugman to run it. Or maybe they could do it together.

Federal Depository Realty Trust - "FDR" Trust for short.

I nominate Sen. Shelby's fellow Alabamian, Dowd Ritter (head of Regions Financial) as the new head.

Sorry - I've been watching Shepard Smith freaking out over this very topic. None of the last week seems real.

L ending
E veryone
M oney
O r
N otes

I am even more bothered by the Fed's moves to insure money-market funds though. Its like banks had to pay in billions to the FDIC to get insurance for savings accounts, and now money market funds have the same insurance for free. Which means all of us should quickly take all our money out of savings and put it in money market funds - all the safety, but better returns.

For a slogan we could use...

"A Mortgage In Every Pot!"

:)

/tricia

How about calling it The Robin Hood Trust with a board of directors of average housewives who know how to balance a checkbook. Oh that wouldnÂt work I keep forgetting that the government doesnÂt balance checkbooks.

I just want to know now that WE own 80% of AIG when they, or I should say WE, turn this around and start making a profit when should I expect a dividend check.

Whatever the name, the word "trust" should not be in it.

Love the acronym, mfbenson.

Don't agree, manyhosta; 'Trust' (misplaced) is the real deal.

I like SUCKERS -- doesn't even need to be an acronym. (And I'm not clever enough to make it represent words.) Could have a logo of a 'Gordon Gecko' in repose in Switzerland or the Bahamas; could change location seasonally.

Paging George Carlin! Paging Mark Twain!

DH came up with:
the Rich-Get-Richer Assurance Corporation
the Moral Hazard Defense Fund

I am thinking:
the Greed Resolution Trust
the Capitalist Relief Fund

How about, PAWN AMERICA dot gov ?

Oh, that's great! I love it!!

/tricia

The No Banker Left Behind Act

Pretty good, dreamgarden!

We could also call it...

"The Cash For Trash Act of 2008"

/tricia

Suggest replacing "e pluribus unum" with "Bad credit? No credit? No down? No problem!"

How about Banana Republic Initiation Service..."BRIS" for short. (Ooooh, was that a pun?)

How does it feel to be broke? Will be interested to learn how the candidates intend to pay for their promised programs, now.

PS...my property tax bill is on my desk and is higher than ever....thereby indicating the government regards my house as having risen in value substantially. How about yours?

BRIS! I love it.

Our RE tax assessment (and tax rates!) are up again. Our community has been about even for the last year as far as median sales prices. However million-plus homes have declined in value 8% -- not registering on my tax bill...yet. (It's for 2007 taxes.)

We were reassessed in April 2008. Our assessment was just shy of doubling. However, our mil rate decreased substantially so our overall tax bill is almost to the penny exactly what is has been for the past four years. It took 5 tries to get the budget passed this year. I felt like voting on the first Tuesday of every month was going to become a monthly event! It was crazy how much the voters cut out of the proposed budget...for instance, there's a large sunken area at the elementary school's playground that needs repair...fill & reseeding. Didn't pass. Nope, the district can't spend whatever it'll take to plop a couple dumptruck loads of dirt & spread it around then hydroseed. The voters have decided that surely somebody in town has some fill dirt laying around they don't need & somebody else must have a backhoe, & Walmart has grass seed! Ah, gotta love New England politics. Instead of paying to go to a movie...I go to our Town Hall Meetings. The entertainment factor is higher & it's free. :)

/tricia

What did I hear McCain call it in a newsclip yesterday? MFI? Mortgage and Financial Institutions Trust.

Mother F-ing Idiots - the obvious first choice

Money-hungry Fear-mongering Instigators

Manipulative Financial Imperialists

TARP-"Total Abdication of Responsibility to the Public.âÂÂ

âÂÂA clear abdication of all Congressional oversight and fiscal authorities to a secretary of Treasury that has bungled this crisis from the beginning.âÂÂ

nancy_in_mich-Great post. Those dirt dealers who would ask us to pay TWICE for their financial irregularities ought to be tarred and feathered. Right before they are sent to prison.

Why is the government *seeking* to gain the banks' and brokerages' permission to go in and reorganize? Hang-up most recently reported was over the idea of NOT rewarding screw-up CEOs and managers for what they've created.

If I am buying it, I am going to run it.

chisue-"Why is the government *seeking* to gain the banks' and brokerages' permission to go in and reorganize? Hang-up most recently reported was over the idea of NOT rewarding screw-up CEOs and managers for what they've created. If I am buying it, I am going to run it."

I agree. PaulsonÂs words and solution are not credible. He was a wall street banker, so he is not a neutral player. He is, in fact, one of the creators of this mess. It appears that he is trying to bail out his buddies on the Wall street with this "cash for trash" plan. There are many ways for the government to pump money into the lending system, which have been floated by smart economists and ordinary people with common sense during the last week. PaulsonÂs plan is among the worst of those ideas. Let the government become a stake holder in these troubled banks in exchange for capital investment. Some will survive and make money; some will tank. ThatÂs fine. But, let the government not get into the business of arbitrarily fixing the prices of junk securities. Such an exercise goes against the very idea of capitalism.