- Toxic Asset
- A liability in an assets clothes.
I keep hearing this term in the media and I decided it was time it had a definition so that people can decipher what is being said, or hear what is not being said.
At the time of writing the top search in google for toxic asset is Yahoo! Answers where the "Best Answer" perfectly describes a liability and still fails to call it one- "Why would somebody pay for an asset that guarantees you will lose money?"- because it's a liability.