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13 Dec 2010 11:10

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Biz: In the market for toxic assets? Bank Of America is having a fire sale!

  • $1 billion in toxic mortgages for sale; it’s a fire sale! (OH MY GOD) source
Posted by Ernie Smith • 0 Comments • Permalink

09 Apr 2010 15:30

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Biz, U.S.: In Oklahoma City, the mall is technically a federal building

  • You gotta love toxic assets. After the government took on $70 billion in bad assets from AIG and Bear Stearns in the wake of their collective crap-outs, there’s been a lot of confusion as to what those assets were. Well, the feds own loans for hotels worldwide, the Miami airport and Chicago’s Civic Opera House. But after the owners of this mall couldn’t make their payments, the government took over the mall. Which is kinda hilarious. source
Posted by Ernie Smith • 0 Comments • Permalink

23 Mar 2009 10:23

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Biz, U.S.: The Obama administration has a plan for toxic assets. Hoo-ray!

  • $500 billion amount the Obama administration wants to spend to buy back toxic assets, to later resell
  • $100 billion maximum amount the administration will kick in to get the ball rolling; Wall Street likes this (so far) source
Posted by Ernie Smith • 0 Comments • Permalink

22 Mar 2009 12:00

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Biz, U.S.: The government is getting private help with those toxic assets

  • “We simply – we simply need them.” Christina Romer, an economic adviser for Obama, chatted with “Fox News Sunday” about the nature of “toxic,” i.e. uncertain, assets. Private investors are doing the administration a favor, she says, by not forcing the government to carry all of the weight of the toxic assets. Good for them. We’ll buy those investors a beer (probably a PBR; times are tough) next time we see them in our local dive bar. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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