You can Put Lipstick on a Pig but…
March 29th, 2009 categories: Just "My" Opinion
You can put “Lipstick on a Pig” but it will still be a “Pig”. This is what the government is doing with the toxic assets. They have now changed the name from “Toxic Assets” to the term “Legacy Assets”.
What is a Legacy Asset? Well according to Wiki, “Legacy Assets are those assets which are less productive (outdated) and in some cases least productive overtime, they are just on the brink of being a liability overtime.”
What does Toxic Mean? Well according to Wiki, “Toxic means capable of serious injury and even death from poison.”
It really doesn’t matter which word you use when describing these bad loans. The way I see it is they will continue to be a liability to our economic and financial recovery and may even cause serious injury or death to the current way we function as a society.
