With the Paulson plan, the taxpayer ends up owning toxic assets of questionable value.

NPR: Was The Bailout Bill A Good Idea?

On the one hand, this split separates the toxic assets, whose value is very uncertain, in an institution that has no insured or guaranteed liabilities and poses no systemic risk.

WSJ: Banks Need Fewer Carrots and More Sticks

As the financial system has stabilized, the value of many so-called toxic assets has increased--the Treasury and Fed long contended that the securities were undervalued.

FORBES: PPIP Ready To Pop

The uncertainty surrounding the true value of mortgage securities, derivatives and other toxic assets is stoking panic in the financial markets.

FORBES: After Bear

But, with a lot less hindsight, they look no sillier than many of the loans extended, underwritten, securitized, sold and bought by what were supposedly the best minds on Wall Street--undocumented mortgages, mortgages with interest but no principal payments, those for more than the value of properties and those to people with toxic credit ratings.

FORBES: Rewind