geithner unveils next tarp tonight, page-16

Let's call a spade a spade and stop using the spin term "toxic assets."

These are "toxic" all right, but they are not assets. They are losing OTC derivative bets.

Despite the trillions of dollars of bail outs we have not been told exactly what was being bailed out.

Guess people wouldn't take too kindly to being told that Bank X's lost OTC derivative bet with a trillionaire family has to be paid and these trillionaires want their $10 billion winnings.

So the spin continues about "toxic assets" instead of "toxic wagers," "toxic bets" and "toxic gambles" etc.