toxic assets

Toxic Assets, G20 and AIG releases some payout disclosures

I find this entire G20 news almost a game of chicken. Now they are discussing tackling toxic assets:

Officials meeting near London this weekend outlined guidelines on how governments should rid banks of distressed securities that have devastated companies from Citigroup Inc. to Royal Bank of Scotland Group Plc. With the G-20 calling the fight its “key priority,” Treasury Secretary Timothy Geithner vowed in an interview to “move quickly.”

But haven't we heard this before?

It's almost like hot potato with no one wanting to admit to holding billions in worthless derivatives.

What is more interesting is how other countries want the United States to clean up these toxic assets while the U.S. seems to be pushing more spending.