Goldman Sachs'level 3 capital rises

Is this an omen? Goldman Sachs, which has weathered the storm as well as any bank, has reported a big rise in its Level 3 assets. The AP notes such assets rose to $82.32 billion in the first quarter from $54.71 billion at the end of the fourth quarter. It accounted for 11 percent of total assets in the first quarter, compared with 8 percent in the fourth quarter. Asset-backed securities accounted for much of the rise. Other banks also saw such assets increase, but not as much. So what to make of all this? Well, this doesn't mean the assets are at risk of being written down. But at some point, you would hope they would rise in value. If the markets re-inflate a bit, the bank might find itself in an enviable position.  

For more:
- here's the AP article

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