Last week I heard a story about NPR’s Planet Money buying $1000 in a toxic asset. It was a fascinating story, one that’s going to evolve over time.
You can name the asset since they haven’t yet. (Today is the last day to enter their contest!)
Interesting stuff. It’s all about the risk.
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Looks like they overpaid for their asset.
A subordinate tranche of a Negative Amortization loan originated in 2005 and 2006. Holy moly we have a live one.