Treasury to Sell Off $142B in Toxic Assets, Make Billions

'Notably improved' market means $15B-$20B profit for taxpayers
By Nick McMaster,  Newser Staff
Posted Mar 21, 2011 3:41 PM CDT
Treasury to Sell Off $142B in Toxic Assets, Make Billions
IIn this July 13, 2008 file photo, the Freddie Mac's corporate offices are seen in McLean, Va.   (AP Photo/Pablo Martinez Monsivais, FILE)

The Treasury Department will start selling the $142 billion portfolio of mortgage-backed securities, the "toxic" assets it bought up during the financial crisis, the Wall Street Journal reports. The securities are mostly 30-year, fixed-rate mortgage-backed securities guaranteed by either Fannie Mae or Freddie Mac. And having bought the securities dirt-cheap, the Treasury expects to make between $15 billion and $20 billion for taxpayers in the next year. (More Treasury Department stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.