I love "The Borg" because:
It is a corruption of "The Org."
It is a square Org. (Ok, it is a cube, but it is square on all sides)
Its purpose is to absorb everyone, and
It describes the brainwashed state of its members, who are half organic human (but without the sense of a life of their own, half robots.
As for the WTBS (Watch Tower Bull Sh!t) most alike name, I like the one an old site rumored to have being closed down by Crooklin, used as its header:
Witchtower Babble and Trick Society.