What the Devil is a, "toxic asset?"
If it's an asset it ain't toxic and if it's toxic it surely ain't an asset.
Can we just start calling these "poor decisions made under conditions of little or no regulation" or "wild speculation made with other people's money?"
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Dang Straight
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2 comments:
We would probably have to call them Credit Default Options. An attempt to bury no-check, high-risk mortgages that should not have been written in the middle of safer mortgages.
And yes, you can blame the fed, for fueling the mess by saturating the market with gobs of cash.
I'm a toxic asset.
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