• TARP II HAS AN ACTUAL NAME!: Our Government Money People were at least smart enough to realize that sequels almost always fail to live up to originals, so -- knowing how well original TARP has performed so far (yikes!) -- they have avoided calling the new $800 billion money bonfire "TARP II," which probably would have resulted in the immediate nuking of everyone. Instead, it is playfully called the "Term Asset-Backed Securities Loan Facility (TALF)." Ha ha, "Securities" was cut out because it would've ruined the acronym. Anyway: Insider beltway gossip suggests that TARP has already developed a gay thing for TALF. Go get 'em, TARPy. [Federal Reserve]

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