What are those assets worth?

Is the question that no one knows what those toxic assets are worth or that they don't like the price?

Way back last July -- before things got ugly and before the government stepped in -- Merrill Lynch sold US$31 billion in securities on its books to Lone Star, a group of private quity funds. Lone Star paid US$0.22 on the dollar. There was more to the deal. Lone Star had to make a down payment equal to 25% of the purchase price but had the right to walk away from the deal if it turned out that the securities were worth less than the agreed price. If Lone Star walked, it would forfeit only the down payment.