TOXIC ASSET INVESTMENT FUND NEWS

The company decided in 2003 to move aggressively into subprime lending to bolster earnings, ultimately producing $77 billion in mortgage-backed securities. The company changed pay practices to prize quantity over quality. And it “built a conveyor belt to dump toxic mortgage assets into the financial system like a polluter dumping toxic substances

Citigroup’s former CEO Chuck Prince and former chairman Robert Rubin sure are sorry that their bank’s toxic assets struck a near-fatal blow to the economy and necessitated a $45 billion federal… Business News Summaries. | Newser

Ambac Assurance entered into a nonbinding agreement to commute all of its remaining collateralized debt obligations of asset-backed securities, another series of toxic assets.