Something Brewing

[fencerider2]

The TARP is not working and someone has a fire burning, only problem is the firetruck has broke down.


You may witness history as our financial system cracks.

[Joe]

Can you provide more info Jim?

[fencerider2]

Largely overlooked in presentation materials released to investors was a disclosure that this quarter the firm would reclassify about $80 billion in assets. Those assets wouldn't have to be marked to market prices. Or they could be held in a way that keeps such losses from hitting earnings.
That has unnerved investors, especially since the holdings involved aren't garden-variety assets. Instead, they include risky holdings such as collateralized debt obligations -- structured securities that have already led to billions in write-downs


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[Joe]

Source?