Shall we call the new bank bailout the FSP, the FiSt Plan, or something else?

By Justin Fox | February 10, 2009 | +

It looks like the Treasury Department will simply be calling its new-look bank bailout the Financial Stability Plan, which doesn’t form a fun acronym at all. That’s probably the reason Tim Geithner picked it, of course. But it shouldn’t stop us. For one thing, if you take the first two letters of the first two words (and why on earth wouldn’t you), that gives you the FiSt Plan. (Pow! Take that, bad assets!) For another, given the lameness of FSP, our rename-the-TARP contest remains open until … well, until we have time to focus it.

Update: While the overall plan will be called the Financial Stability Plan, the replacement for TARP proper is actually the Financial Stability Trust. FST. FiST!

Related Topics: Wall Street & Markets

@TIMEBusiness

Latest on Business

Airlines May 22, 2012

Senate Approves Hike in Airline Security Fees

(WASHINGTON) — A Democratic-controlled Senate panel Tuesday approved a $2.50 increase in airline security fees that would double the per-passenger fee for those taking nonstop flights.
From our Partners
Why Greece Isn't Leaving the Eurozone YetSlate

Weird-Mart: Tales of the Bizarre from the Walmart AislesDaily Finance
Tech Bubble Death Watch: The Facebook IPOHuff Post Business
Wall Street & Markets May 22, 2012

Stocks Rally Further in Run-up to EU Summit

MOSCOW — Global stocks enjoyed one of their best days in weeks on Tuesday ahead of a summit of European leaders that’s expected to be dominated by calls to boost economic growth.

Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a long way to determining the country’s membership of the euro as well as the future of the single currency zone.

plukasiak

The advantage of Financial Stability Plan is that it doesn’t matter if the actual plan makes any sense — the mere repetition of the name ensures its “success” in terms of public perception.
Justin Fox

You’re right. Especially when you contemplate the comparison with “Troubled Asset Relief Program.” It’s one more bit of evidence that Hank Paulson really wasn’t what you’d call an adept communicator.
Barbara Kiviat

Nice life lesson. I never thought the Treasury Department would teach me when to make an acronym and when not to.
bryanfromhouston

I think folks will soon come around to FSP. It has a tough sounding government name…kind of like CIA, FBI, DOD, etc. All good well recognized government entities have a 3 letter identifier but no more than 5….you really can’t shorten POTUS.
-
Speaking of the POTUS…that was one heck of a presser last night. He really had the morning news folks scrambling to compress all of what he talked about into sound bites, but there were none and rightfully so.
-
This country has been reduced to soundbiteism as a way for conveying policy with tragic results. Instead of realizing this error, folks have tried to simplify these economic matters even more. The one thing I learned from my days riding fourwheelers in the mud in East Texas….the more fun you had getting stuck was proportional to the amount of work required to get out. And this country has been having fun for a heck of a longtime…the policy work getting out will not be sound-bite material.
-
Further, while I have heard some clever names this contest is essentially over after the re-announced priorities of New TARP or PRAT (Program for Relief from Asset Troubles). I dare say that no name or acronym can encompass the expanded breadth of the program. It might as well have been written in Sanskrit. For those seeking a more hip name, I would consider Old TARP = weaksauce and well, NEW TARP is HOTSAUCE!!
dzheyms

The Federation of Interstate Truckers will take care of this recession just like they take care of no-good scabs! FIST!