Grow up MS. I think you can do better than this. The last thing you want to do is to leave investors in confusion. Its ok to be brave and write off whatever has to written ofF. Apparently Goldman has friends in level 3 now.
Morgan Stanley Reclassifies Assets, Receives Subpoenas on Subprime Debt - WSJ.com
Morgan Stanley Reclassifies Assets, Receives Subpoenas on Subprime Debt - WSJ.com
Morgan Stanley also said in its SEC filing that during the fourth quarter ended Nov. 30, it reclassified $7 billion worth of funded assets and $279 million of net derivative contracts to Level 3 from Level 2. The reclassifications were "primarily related to the continued market and liquidity deterioration in the mortgage markets," the company said.
