I think you meant CDO, not CDS.
Thankfully that was the only CDO trade Goldman wrote, and the drunk was a Frenchman so he could still operate!
As for Level 3 assets, well, different banks are valuing them in diffrenet ways, some better than others - it will be interesting to see the outcome as time goes on!
I think you meant CDO, not CDS.Thankfully that was the only CDO...
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