Who is next after Goldman?

If you can't trust Goldman's marks, are you going to trust private equity? Private equity valuations are just Level 3 assets, not marked down.

How about hedge funds? Anyone have an idea of the redemption requests for hedge funds? It's the only industry where you pay somebody 20% to mark-up your assets! Who is going to fund these hedge funds?

How much light can this shadow banking system take?

But they were able to push the disclosure of their short positions for two weeks for "competitive" reasons.

Sunday, the SEC gave in slightly to hedge funds that were concerned that the agency's temporary rule requiring money managers to disclose their daily short positions to the public would reveal their trading strategies to competitors. The SEC said the managers would still need to file their positions but they would initially be made only to the SEC staff. The filings would become public two weeks later.
http://online.wsj.com/article/SB122202740902360795.html?mod=googlenews_wsj

Now we have short selling restrictions in Australia, Taiwan and the Netherlands.

These hedge fund boys better spend some time more tweaking their algorithm and VAR models instead of the ones on the catwalk!