http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/ Investment News Provider Fri, 06 Nov 2009 11:54:40 -0600 http://wordpress.org/?v=2.8.4 hourly 1 http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/comment-page-1/#comment-12667 Inside Wall Street: The Hocus-Pocus Accounting Tricks That Will Perpetuate the Capital Markets Credit Crisis | triggereventstrategist.com Tue, 02 Dec 2008 17:03:23 +0000 http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/#comment-12667 [...] assets are classified as Level 3 assets. There’s plenty of room here for hocus-pocus accounting. Valuing Level 3 assets is a magic act all by [...] [...] assets are classified as Level 3 assets. There’s plenty of room here for hocus-pocus accounting. Valuing Level 3 assets is a magic act all by [...]

]]> http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/comment-page-1/#comment-11645 Keith Fitz-Gerald: We Haven’t Seen the Worst of the Credit Crisis Mon, 03 Nov 2008 15:29:01 +0000 http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/#comment-11645 [...] recent changes surrounding the “mark-to-market” accounting of so-called “Level 3″ assets are a step in the right direction. But what few people realize is that, in the short-term, these [...] [...] recent changes surrounding the “mark-to-market” accounting of so-called “Level 3″ assets are a step in the right direction. But what few people realize is that, in the short-term, these [...]

]]> http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/comment-page-1/#comment-10661 By Relaxing “Market-to-Market” Rules, Has the U.S. Switched Off its Financial Crisis Early Warning System? Wed, 08 Oct 2008 08:01:02 +0000 http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/#comment-10661 [...] As the market for MBS and collateralized-debt obligations (CDO) dried up, financial firms were caught holding billions in securities for which there was no longer a market. That led to a steep decline in prices and huge write-downs, which translated into escalating quarterly losses. These complex securities, which had been “Level 1” assets, were quickly becoming “Level 3” assets. [...] [...] As the market for MBS and collateralized-debt obligations (CDO) dried up, financial firms were caught holding billions in securities for which there was no longer a market. That led to a steep decline in prices and huge write-downs, which translated into escalating quarterly losses. These complex securities, which had been “Level 1” assets, were quickly becoming “Level 3” assets. [...]

]]> http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/comment-page-1/#comment-10407 The Three Signs That the Credit Crisis Has Yet to Hit Bottom Fri, 03 Oct 2008 16:32:54 +0000 http://www.moneymorning.com/2008/04/21/rising-tide-of-level-3-assets-a-disaster-waiting-to-happen/#comment-10407 [...] recent changes surrounding the “mark-to-market” accounting of so-called “Level 3″ assets are a step in the right direction. But what few people realize is that, in the short-term, these [...] [...] recent changes surrounding the “mark-to-market” accounting of so-called “Level 3″ assets are a step in the right direction. But what few people realize is that, in the short-term, these [...]

]]>