Jason Kelly has a really interesting perspective on toxic assets--he thinks we are the most toxic asset, or more specifically, the financially illiterate amongst us:
Financially stupid people are America’s most toxic asset. They fail to see the money-trap society around them. They live in a world controlled by corporations seeking to extract as much of their wealth as possible, and the moronic masses open wide for every lure...
They trust false promises of bought-off politicians. They sit mesmerized before advertising campaigns telling them to buy trifles they don’t need using debt they can’t repay. They stumble down the path paved by big business that transfers their income to corporate coffers. They don’t realize that the way of the world is not the way they want to live, then they wonder what happened when they end up broke and hopeless.