Word: toxication
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...would have been interesting to ask each man what he thought about the value of the toxic assets on bank balance sheets. Unlike land, toxic assets can multiply. And, unlike land, the value of toxic assets may never rebound, although analysts differ on that subject. (See pictures of Mark Twain...
...Madoff scandal is that some people were not making money at all during the great capital bonanza of the last half decade. Prosperity was in tremendous supply because people wanted it to be. Madoff was "making" billions of dollars while actually losing billions. His fund was a pool of toxic assets...
...cash infusion to help pay off the DIP loans. But if a company can't reorganize in 210 days, and is forced to cancel its leases, it won't have a place to sell its goods. No sale means no cash, and the banks will be stuck with toxic debt. Faced with this tight time frame, the banks might not risk a DIP financing even when things are flush; in down times, forget about it. Once bankrupt and unable to find a buyer, a company must dissolve immediately, and recoup what it can through liquidation. "Retailers can't get access...
Energy efficiency can also have its downside. The California building codes you praise ("airtight shells") have harmed some who have reacted to the chemicals trapped inside. The much-touted compact fluorescent lightbulbs can increase symptoms in people with migraines and other conditions. Plus, if they break, they can release toxic mercury. And when one burns out, you can't toss it in the trash; you have to waste gas driving the bulb across the county to a toxic-waste disposal center. Karen M. Campbell, SACRAMENTO, CALIF...
...repackaged the bad Cuban debt--and went on in the 1920s to find ever more creative ways to sell securities and lend to the burgeoning middle class. Mitchell, who became president of the bank in 1921, built City into the first financial supermarket. When everything financial turned toxic in the early 1930s, he became the most prominent scapegoat for the disaster. He was the main target of the famous Pecora hearings in Congress, was arrested for--but not convicted of--tax evasion and resigned in disgrace. The Glass-Steagall Act of 1933 put an end to the blending of banking...