29 September 2008

"Corporate Revolving Asset Program" = CRAP

A slightly naughty but wondrously appropriate acronym for the current shell game in which company X buys the toxic assets of company Y. Or the taxpayers buy the assets with the suggestion that they might be able to sell them later "when things calm down and conditions improve." Kudos to Cadfael for inventing the acronym.

Addendum: a brief apology to TYWKIWDBI visitors who come here each day looking for the typical upbeat stories about exotica and ephemera. This week the two-headed turtles and vintage photos of the Beatles and revelations about ancient history have to yield to the more pressing matters of an impending financial Armageddon. We will return to cheerful material shortly.

Wait - here's something for you. It's all about a cute little bunny rabbit and a Big Bird.....

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