{"id":196442,"date":"2008-04-25T17:23:00","date_gmt":"2008-04-25T22:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/25\/level-3-asset-bingo\/"},"modified":"2008-04-25T17:23:00","modified_gmt":"2008-04-25T22:23:00","slug":"level-3-asset-bingo","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/25\/level-3-asset-bingo\/","title":{"rendered":"Level 3 Asset Bingo"},"content":{"rendered":"<p>Here is an interesting commentary on the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=newsarchive&amp;sid=a0ZGtAQHLpiA\">rather dubious nature of some of the assets on wall street<\/a>.<\/p>\n<blockquote><p>Here&#8217;s Rule No. 1 from Wall Street&#8217;s public-relations playbook: If the company you run has big losses on hard-to-value assets, scream your head off about the accounting rules.<\/p>\n<p>And what if the squishy values result in huge gains instead, as they have in the not-so-distant past? Rule No. 2: Stay mum about it for as long as the rules allow.<\/p><\/blockquote>\n<p>Basically he is noting that the various brokerages are booking a lot of profits on level 3 assets, but level three assets have no regular market to independently determine value, so we are back to smoke and mirror.<\/p>\n<p>Go read, if you dare.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here is an interesting commentary on the rather dubious nature of some of the assets on wall street. Here&#8217;s Rule No. 1 from Wall Street&#8217;s public-relations playbook: If the company you run has big losses on hard-to-value assets, scream your head off about the accounting rules. And what if the squishy values result in huge &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,973,1004,1002,985],"tags":[],"class_list":["post-196442","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economy","category-finance","category-good-writing","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196442"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196442"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196442\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}