On today's show: Toxie, Planet Money's pet toxic asset, died last year. But we learned recently that she may rise from the grave.
And she could theoretically earn us $75,000 — which is astonishing, given that we bought her for only $1,000. If we do make a profit, all the money will go to charity.
Toxie was (is!) a mortgage-backed security — one of the complicated financial instruments that were the heart of the financial crisis. When we bought Toxie, we bought into a pool of thousands of mortgages around the United States.
Recently, that particular pool became the subject of a lawsuit. (Here's the complaint; here's a WSJ story on the lawsuit.)
According to the lawsuit, the mortgages in the pool were a lot shoddier than they were supposed to be.
For More: Read "The Return Of Toxie"
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