witty internet acronym stands for FUCK READING ALL THAT.
the context is your favorite high traffic message board of choice, or an email from co-worker with large word doc attached:
douchebag poster: *lengthy tirade about innane beliefs or opinions*
clever troll: FRAT!
douchebag poster: whats your problem troll?
clever troll: don't have the time for this crap. ban!