I'm hearing a lot more lately about how they have grey assets, bad assets, that aren't reflected yet on their balance sheets. I've heard this in the past and I'm hearing it again now that banks are getting upgraded by Goldman Sachs. This press release came out today pointing out that it's still not reflected on Wells Fargo or Bank of America's books.... "Contrary to the Goldman call, Whalen says the earnings outlook will get worse over the next two quarters, culminating in a bloodbath in the fourth quarter." http://finance.yahoo.com/tech-ticke...:-Banks-"Heading-Into-the-Storm,"-Whalen-Says So what I'm wondering is when will they report and have these reflected? It would seem logical that BAC would have it reflected as soon as possible so they could dump the bad news with the old CEO and move forward with a new CEO who will straighten out the mess. I don't know any CEO who would want that bombshell dropped on their watch. All people would see is the stock is down so many percentage points since this new CEO took over. I would think any new executives would want write downs applied before they took over. Part of me feels that they may never reveal the bad assets. Maybe they are so horrible that they cannot reveal them and are being protected by the government from not revealing them to protect our banking system from collapsing/failing or needing more bail out funds. Maybe they are waiting until a good earnings quarter to offset a majority of it to soften the blow? I don't know. It's been noted that Wells Fargo and Bank of America and other banks have a lot of write downs to come. Anyone know if they are required to report them anytime soon legally?