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Fri September 17, 2010
Follow that cute little toxic asset
The team at NPR's Planet Money has come up with another way for us to understand the financial crisis. They bought a pet.
Planet Money is committed to following the financial crisis to the bitter end. And what better way to do that than to own a piece of it. We bought one of those things that no one wanted, one of those things that almost brought down the global economy: our very own toxic asset. This one has more than 2,000 mortgages in it. We paid $1,000, with our own money, for our piece. It used to be worth more like $75,000. Click on the timeline and roll over the states to watch a disaster in progress.
You can follow their pet's dubious future here.