Troubled banks want to buy back toxic assets

Troubled banks want to buy back toxic assets New York - US banks that have received government financial aid to help to stay afloat due to investments in risky assets are considering buying back so-called "toxic assets" for resale, according to a report Friday by British daily the Financial Times.

Citing unnamed banking sources, the FT said the institutions considering the move included Citigroup, Goldman Sachs, Morgan Stanley and JP Morgan Chase, all of which have received billions of dollars from the US government to stay afloat in the ongoing financial crisis.

The report quoted critics of the alleged move as saying that troubled banks were provided funding for the set purpose of helping banks sell, rather than buy, risky securities. (dpa)

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