Toxie seems to be a popular character on NPR and throughout the blogosphere that focuses on asset and financial management. Toxie is the name given the toxic mortgages throughout the U.S. When Toxie was good, she doubled, tripled, quadrupled the value of housing in different parts of the country.
But then she had to pay her dues and Toxie became toxic. Toxie gave wealth. Toxie took it away.
Toxic assets — bundles of mortgages that Wall Street sliced up and sold to investors — were at the center of the financial crisis. When the housing market tanked, no one wanted to own them. That’s when we bought one. When we bought Toxie , in January of this year, she seemed like a great deal. We paid $1,000. That was 99 percent less than she cost dring the housing boom.
In the end, people could not figure out how much Toxie’s assets were really worth. And there are millions more still out there waiting to see how their story ends.
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