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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (76460)	3/19/2008 4:02:52 AM
From: coachbobknight	Respond to of 116555

did you catch this from the goldman conference call...i am quoting from a bloomberg story... "Goldman's so-called Level 3 assets, which are the hardest to value, rose to about 8 percent of the firm's total assets from about 7 percent in the prior quarter, Viniar told analysts. The increase was largely related to commercial real estate loans that were moved from Level 2, where assets are valued in part using market prices, to Level 3." bloomberg.com isn't this a rather blatant attempt to hide something... hmm, let's see...everyone is anxious to see evidence of problems with commercial next...but goldman has no problems with commercial at all...but they decided to move their commercial exposure to level 3 so they don't have to mark it accordingly... am i missing something or shouldn't this be a HUGE RED FLAG that commercial mbs is now in trouble... why else would they choose NOW as the moment to move this stuff to level 3 and mark it to model... seems very fishy to me and i'm surprised i haven't seen it mentioned anywhere... steve