Glossary of Terms and Acronyms
Bailout - providing an endangered company with capital in attempts to avoid its bankruptcy
CARS Act - Consumer Assistance to Recycle and Save Act
CARS - Car Allowance Rebate System
DOE - Department of Energy
DOT - Department of Transportation
E.E.S.A. - the Emergency Economic Stabilization Act of 2008 was a law enacted under President Bush in response to sub-prime mortgage crisis allowing the U.S. Treasury to spend $700 Billion to relieve distressed assets. This is more commonly known as "the bailout".
EPA - Environmental Protection Agency
Fannie Mae and Freddie Mac- A government sponsored enterprise meant to purchase and securitize mortgages in order to ensure that funds are consistently available to institutions that lend money to home buyers.
Fiscal policy - The governments control of the economy through the use of expenditures and revenue collection
Great Recession - Period of economic crisis experienced from 2007-2010 spurred by a collapse in the housing market.
Lame duck - an elected official approaching the end of their tenure who are commonly less active and have less power.
Laissez faire - Economic ideal allowing industries little interference of state regulation especially restrictions in the form of tariffs or other types of government protection.
Mortgage Backed Securities (MBS) - an asset backed security, or debt obligation that represents a claim on the cash flows from mortgage funds
NHTSA - National Highway Traffic Safety Administration
Rebound Effect- the tendency to drive more when the costs of driving decreases
Refinancing -The replacement of an existing debt obligation to a new debt obligation with different terms. Most commonly practiced through mortgages.
Sub-prime lending - Loans that qualify for the riskiest class of consumer loans, and are typically sold on a separate market than prime loans.
T.A.R.P. - the Troubled Asset Relief Program was part of the E.E.S.A. meant to provide relief to big players in the financial sector of the economy.
Toxic Asset- Financial asset whose value has decreased significantly, or whose market has stagnated, so that the asset can not be sold at a price satisfactory to the holder.
USD - US Dollar
CARS Act - Consumer Assistance to Recycle and Save Act
CARS - Car Allowance Rebate System
DOE - Department of Energy
DOT - Department of Transportation
E.E.S.A. - the Emergency Economic Stabilization Act of 2008 was a law enacted under President Bush in response to sub-prime mortgage crisis allowing the U.S. Treasury to spend $700 Billion to relieve distressed assets. This is more commonly known as "the bailout".
EPA - Environmental Protection Agency
Fannie Mae and Freddie Mac- A government sponsored enterprise meant to purchase and securitize mortgages in order to ensure that funds are consistently available to institutions that lend money to home buyers.
Fiscal policy - The governments control of the economy through the use of expenditures and revenue collection
Great Recession - Period of economic crisis experienced from 2007-2010 spurred by a collapse in the housing market.
Lame duck - an elected official approaching the end of their tenure who are commonly less active and have less power.
Laissez faire - Economic ideal allowing industries little interference of state regulation especially restrictions in the form of tariffs or other types of government protection.
Mortgage Backed Securities (MBS) - an asset backed security, or debt obligation that represents a claim on the cash flows from mortgage funds
NHTSA - National Highway Traffic Safety Administration
Rebound Effect- the tendency to drive more when the costs of driving decreases
Refinancing -The replacement of an existing debt obligation to a new debt obligation with different terms. Most commonly practiced through mortgages.
Sub-prime lending - Loans that qualify for the riskiest class of consumer loans, and are typically sold on a separate market than prime loans.
T.A.R.P. - the Troubled Asset Relief Program was part of the E.E.S.A. meant to provide relief to big players in the financial sector of the economy.
Toxic Asset- Financial asset whose value has decreased significantly, or whose market has stagnated, so that the asset can not be sold at a price satisfactory to the holder.
USD - US Dollar
