It just occured to me: WWE has released about 40 people in the last 2 years.

Some (Kenzo Suzuki, Albert, Mark Lloyd and Joy Giovanni) aren't big draws - but many of the rest could make an excellent new federation, if a group had the money. The Dudleyz, Charlie Haas, Shannon Moore, Jimmy Yun (Akio), Rico, Matt Morgan... these 8 alone could make a good start!