My personal all time favorite acronymn is
WPPSS (pronounced "Whoops") which was the Washington Public Power Supply System. The system issued public bonds to cover the construction of Nuclear (pronounced Noo-cue-ler, by certain ignorant fools, and a President) Power Plants.
The Nuclear Power Plant construction became unfeasible and the bonds went into default in 1982, right in the middle of an economic recession.
Whoops!!
Quote:
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In 1998, the corporation was renamed Energy Northwest. A consultant advised the board of directors that the old name was "hurting business opportunities"
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http://www.scripophily.net/wapuposusybo.html