Do You Know What a TARP Is?

To those not interested in finance or wordsmithery (not sure if it’s a word, but you get the idea), many apologies. I love astrology, but I also love words and financial markets. Sometimes it’s hard to get all three in the same post.

Acronyms are always big in finance and politics. Remember CREEP? That was the unit that got Nixon into trouble — the Committee to Re-Elect the President.

Well, the acronym du jour is TARP. That stands for Troubled Asset Relief Program, the $700 billion bailout proposal that evidently hit a bump in the road after the markets closed Thursday. No surprise there, with Mercury retrograde.

You may recall from an earlier post that the TARP has also been labeled MOAB — the “mother of all buyouts.”

Now, Merriam-Webster informs us that “tarp” is short for “tarpaulin,” which it defines as “a piece of material (as durable plastic) used for protecting exposed objects or areas.” Well, I think that’s a pretty good description of how Wall Street views the TARP.

But the question of the hour is: Will the TARP keep a roof over the head of the American homeowner? Or we will end up living in tarp cities?

Evidently, the Swedes have been through a bank bailout that turned a profit for taxpayers and have some advice for us. Now, if our elected representatives in Washington will only listen.

4 comments on “Do You Know What a TARP Is?

  1. Wordsmithery is a wonderful word, and I found it in the dictionary, the noun form for the practice of working with words (as in wordsmith). Your connection of TARP and tarp is apt and inspired.

    This is a time when we need enough folks in the Capitol to join together to pull that “tarp” across. But if they wrangle too much and too long, the rains will come before it happens. Are we seeing that signal in the WaMu failure? Perhaps we should all run to the hardware (not the bank) today to get our own tarp!

    Andy Kessler in the Wall Street Journal had a piece that asserts we the American government could actually profit on this deal.

    Not sure about that, but I do know the bill will be worse if we don’t pick up the tab now, albeit with some caveats for Wall Street AND Main Street.

  2. Thanks so much. Your comment came at an opportune time. Evidently some of my friends think I’ve been an apologist for Sarah Palin. Of course, I thought I had a “balanced” view. I’m learning the pitfalls of having a blog! So it’s great to get positive feedback.

  3. Susan D — Glad to know that wordsmithery is indeed a word and that there are others who revel in it. Thanks for stopping by and commenting! — Monica

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