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What is toxic asset?

Updated: 8/17/2019
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Wiki User

15y ago

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It's all these subprime mortgages and bad mortgages. They are practically worthless cause people cant pay them back. The banks lended money to people who couldn't pay them back. Now these crappy mortgages are all packaged up and Wall St. sold them to different places, and this was done behind closed doors.

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15y ago
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