Housing

When An Asset Turns Toxic, Who You Gonna Sue?

George Laufenberg

hide captionGeorge Laufenberg, manager of the carpenters union fund that is suing over a toxic asset gone bad.

(NPR/Caitlin Kenney)

A toxic asset — very much like our own Toxie — goes bad. And a New Jersey carpenters' union fund that bought a piece of the asset tries to figure out if there's someone to blame.

On today's Planet Money, we hear from a carpenter, a lawyer and a guy who owns a pub in London. Oddly enough, the pub owner could be the one bailing the carpenters out.

Download the podcast, or subscribe. Check out a graphic that tracks the carpenters' toxic asset. Music: Gorillaz' "Stylo." Find us: Twitter/ Facebook/ Flickr.

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