Solution for Python 3

For Python3 the following code grabs the word list from the web and returns a list. Answer based on accepted answer above by Kyle Kelley.

import urllib.request

word_url = "http://svnweb.freebsd.org/csrg/share/dict/words?view=co&content-type=text/plain"
response = urllib.request.urlopen(word_url)
long_txt = response.read().decode()
words = long_txt.splitlines()

Output:

>>> words
['a', 'AAA', 'AAAS', 'aardvark', 'Aarhus', 'Aaron', 'ABA', 'Ababa',
 'aback', 'abacus', 'abalone', 'abandon', 'abase', 'abash', 'abate',
 'abbas', 'abbe', 'abbey', 'abbot', 'Abbott', 'abbreviate', ... ]

And to generate (because it was my objective) a list of 1) upper case only words, 2) only "name like" words, and 3) a sort-of-realistic-but-fun sounding random name:

import random
upper_words = [word for word in words if word[0].isupper()]
name_words  = [word for word in upper_words if not word.isupper()]
rand_name   = ' '.join([name_words[random.randint(0, len(name_words))] for i in range(2)])

And some random names:

>>> for n in range(10):
        ' '.join([name_words[random.randint(0,len(name_words))] for i in range(2)])

    'Semiramis Sicilian'
    'Julius Genevieve'
    'Rwanda Cohn'
    'Quito Sutherland'
    'Eocene Wheller'
    'Olav Jove'
    'Weldon Pappas'
    'Vienna Leyden'
    'Io Dave'
    'Schwartz Stromberg'