FINANCIAL CRISIS

NPR Buys a Toxic Asset

A team of NPR reporters for its Planet Money program pooled $1,000 of their own money last January to buy a Toxic Asset, one of the bonds cobbled together from homes and mortgages that was at the heart of the credit crisis from the very beginning. The bond was at one time worth around $75,000. The reporters’ objective now is to watch the toxic asset’s slow death as homes are sold for a loss and share its decline with readers here. So far, they have recouped $332, but do not seem optimistic that they will make back their initial investment before the bond’s value is extinguished.