Level 3 news from FierceFinance

We've long said that it would be colossal if the government gave TARP banks a clean bill of health only to watch them tank anew. The fact is that there is no public money left for them. The... Read more...

Reuters has taken a close look at Goldman Sachs's latest 10Q and come up with something interesting: Goldman reported a second-quarter net unrealized loss of $1.4 billion on its Level 3 derivatives.... Read more...

Financial Week reports that top banks are reporting a rise in level three assets. Which just might presage another round of bitter valuation haircuts. Citi, for example, has said that level three... Read more...

Once banks started writing off lots of toxic debt, some thought we'd see a significant decline in level three assets, but that may not necessarily materialize as a trend. JPMorgan said in an SEC... Read more...

In the wake of the Enron crisis, "fair-value accounting" seemed like a good idea. It was designed to create reporting uniformity and make it harder to play games. But it's turning out poorly for Wall... Read more...

John Thain has not been shy about telling the world that Merrill Lynch is well-capitalized and will not be raising funds anytime soon. At... Read more...

Company News:> More on Merrill's level 3 assets. Article >... Read more...

Company News:> When to bail on a money manager. Article > Amex to slash staff? Read more...

Company News: > Goldman Sachs underwriting for RBS. Article > National City to raise $7 billion. Read more...

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... Read more...