
FOX News - 1/27/09 - Because You Asked... "You Talked about the banks holding toxic assets. How many toxic assets are there?" www.foxnews.com Toxic Assets (Level 3 Assets) = Those things owned that may have a lower value than the original purchase, but it difficult to put a value on. According to the report, the top 5 Big Banks estimated $ of Toxic Assets: - Citigroup $157 Billion - J Morgan Chase $140 Billion - Morgan Stanley $78 Billion - Goldman Sachs $69 Billion - Bk of America $60 Billion ---- Total $505 Billion! Top 25 Banks = ~$13 Trillion Toxic Assets!! Another scary point is that there are some other soon-to-be toxic assets like - Student Loans - Auto Loans - Credit Card Loans Supposedly, these have not been figured in yet. Feeling good yet? :) Remember --- PREPARE, PREPARE, PREPARE
Toxic Assets
debt
economy
banks
celente
peter schiff
money
recession
depression