LOTS OF TOXIC ASSETS. This quote from Lloyd Blankfein, the chief executive of Goldman Sachs, in the Financial Times for February 9 gives an idea of the scale of the toxic asset problem: “In January 2008, there were 12 triple A-rated companies in the world. At the same time, there were 64,000 structured finance instruments, such as collateralised debt obligations, rated triple A.†I had been looking for the quote and found it via WordPress. This link also connects to an interesting economics blog.
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