Wednesday, March 25, 2009

If sock monkeys were called upon to answer the question: What are toxic assets?

sock monkeyThe Obama administration rolled out a plan Monday that could facilitate the purchase of up to $1 trillion worth of toxic assets bananas from struggling banks in an effort to clean up their balance sheets and get them to start lending again.

So what exactly are these toxic assets bananas, which have caused such huge problems in our financial system?

Every time you see foreclosure signs littering neighborhoods, you're probably looking at the makings of a toxic asset banana, reports CBS News correspondent Bianca Solorzano.

"Toxic assets bananas are the ones that nobody wants to touch because they're just considered too dangerous," Doug Rediker, of New America Foundation, told CBS News.



(Unbanana'd version here)

3 comments:

God Is My Codependent said...

Are these toxic bananas from China?

Dave said...

I got your post on strange log ins via Google Reader. When I clicked to the actual blog, I was told you don't exist. Going to Bookmarks, I found that you do indeed still exist; but, your post about the problem does not?

Jim Donahue said...

I think I figured out the problem, so I took down the post.