April 21, 2009
Europe concocts plans to fight toxic assets, foreclosures

The International Monetary Fund said on Tuesday that the financial crisis “is likely to be deep and long lasting.” The fund raised its estimate of losses faced by banks and financial instutions worldwide to more than $4 trillion.

One of the big problems faced by the United States and other countries is just how to get rid of their so-called toxic assets. Germany faces a similar problem, and has considering an idea that would put all the troubled loans into a “bad bank.”

Peter Coy, the economics editor for BusinessWeek magazine, joins Martin Savidge to discuss plans in Britain and the U.S. to help troubled homeowners reduce their monthly payments, Germany’s approach to getting rid of toxic assets and China’s relative optimism about the future.

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Comments

2 comments

#2

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#1

“Bad” bank? Why then not attempt an
“antimatter” bank and see what kind of toxic effect this would have on regular bank “matters”
which are so affecting matters in this World
that some might wish they could oppose matter
by not being within the confines of Matter.
“Antimatter” mixing with “matter” might be a “cure” for what is the matter.
But will the matters of (formerly) “good banks” be rendered any better by “mixing” them
with “bad banks”?
I assume Economists will continue to mix their “anti-matter” answers with various “normal” matters to arrive at solutions deriving from, previously, annihilated forms of financial mysteries.

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