Acronyms

Why this List of Acronyms?

Thorough out the current financial meltdown ushering in the great recession we are currently under in at the time of this publication (June 2009), the following acronyms will be used, abused, and thrown at you by various stakeholders: bankers, administration officials (some of whom are ex-bankers), politicians, and the media. It would help you to prevent trillions more from being looted by the well-connected bankers if you familiarize yourself with each of these terms. Some of these are conduits through which taxpayer dollars are systematically being looted by bankers in Goldman and other creme-de-la-creme banks to pay their executives huge bonus, even as ordinary Americans are increasingly becoming bankrupt and homeless because of foreclosures, as also jobless because of the rising unemployment nationwide. The government bailed out the bankrupt businesses like Goldman, but who will bail you out? You are not well-connected to the politicians, are you? You paid only 25 dollars to the Campaign Finance of the politician, but the bankers paid thousands. At least, in the interest of your tax dollars, and in the interest of the future of your progeny, familiarize yourself with what is going on. Understand what each of these acronyms really mean. Search these terms on the Internet, and learn about them. We cover most of these under our weekly podcasts, so listen to each one of them, and stop the 20 trillion dollar value drain.

ABS: Asset Backed Securities
BHC: Bank Holding Company
CDS: Credit Default Swap
CRA: Credit Regulatory Agency
CFTC: Commodity Futures Trading Commission
CFPA: Consumer Financial Protection Agency (Does not exist at the time of this publication, proposed in the 101 page Financial Regulatory Reform Report)
ETD: Exchange Traded Derivatives
FASB: Federal Accounting Standards Board
FDIC: Federal Deposit Insurance Corporation
FDICIA: Federal Depost Insurance Corporation Improvement Act
FHC: Financial Holding Company
FHFA: Federal Housing Finance Agency
GSE: Government Sponsored Enterprise
MBS: Mortgage Backed Securities
NBS: National Bank Supervisor ((Does not exist at the time of this publication, proposed in the 101 page Financial Regulatory Reform Report)
NCUA: National Credit Union Administration
OTC: Over the Counter (Derivatives)
PPiP: Public Private Investment Plan
SEC: Securities and Exchange Commission
SCAP: Supervisory Capital Assessment Program (Commonly known as the "Stress Tests" for banks)
SIGTARP: Special Inspector General for TARP
TALF: Term Asset-Back-Securities Loan Facility
TARP: Troubled Assets Relief Program
TARP COP: TARP Congress Oversight Panel

Recommended Reading by FRANCONOMICS.COM