TOXIC ASSET INVESTMENT FUND NEWS

No one knows exactly how many toxic assets still haunt the books of major investment banks, insurance companies and other mortgage-backed securities holders…

Loans with ridiculous fees and interest rates have ensured they are unlikely to be repaid, and has a large number of bad debts and toxic assets should be given.

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.

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

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

Lehman Brothers used a toxic asset mule to shift toxic assets off its books. Other banks do the same. Shadow accounts.

The Securities and Exchange Commission is accusing Goldman Sachs of fraud in connection with how some of the so-called toxic assets involved in the nation’s financial mess were packaged and sold to customers.

US financial companies still have more than a $1 trillion on their balance sheets, but analysts say they are unlike to stem the recent rally in financials.

Don Harrold interviews Peter Schiff about the history of the economy that lead us to the mess we are in today.

In March 2009, the Treasury created PPIP, pledging up to $100 billion to be matched with private money and leveraged into a $1 trillion toxic-asset-eating monster. Buy all the terrible assets, thought went, and we’re all set. Economy saved. Buffett’s proposal notes that he’d already lined up Goldman Sachs to work on raising $10 [...]