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What is toxic asset?

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Anonymous

16y ago
Updated: 8/17/2019

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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Wiki User

16y ago

What else can I help you with?