The last bubble: A neighborhood laid out in in the 1970s in Charlotte County, Florida, for a subdivision that never got built. DigitalGlobe hide caption

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Planet Money

Before Toxic Assets Were Toxic

Back in the day, Planet Money's pet toxic asset seemed like a benign way to help more people buy houses.

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Dr. Fred Bloom unwittingly sold this house into what may have been a mortgage-fraud ring. Chana Joffe-Walt/NPR hide caption

itoggle caption Chana Joffe-Walt/NPR

Planet Money

A Tiny Slice Of A $200 Million Mortgage Fraud

Planet Money's Toxic Asset includes a tiny slice of a major mortgage fraud.

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Richard Koenig, 81, defaulted on a $300,000 loan. "I don't have horns," he said. Chana Joffe-Walt/NPR hide caption

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The collapse of the housing market has turned more than $1 trillion in mortgage-backed bonds into toxic assets. Spencer Platt/Getty Images hide caption

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A computer monitor confirms the purchase of a toxic asset. (Note: Some information is intentionally blurred out.) David Kestenbaum/NPR hide caption

itoggle caption David Kestenbaum/NPR