Goldman Sachs has amassed a war chest of $164bn in cash and liquid assets that could be used to buy distressed securities and loans, Goldmanâs chief financial officer said on Tuesday. David Viniar spoke as the bank sold $5bn in common stock â at $123 per share â which it will use to repay some $10bn from the US TARP scheme. Goldman on Monday reported $1.81bn in Q1 earnings, helped by a record $6.5bn in revenues in fixed income, commodities and currencies activities. http://ftalphaville.ft.com/blog/2009/04/14/54656/goldmans-blow-out-q1-figures/ Why not cleaning up their own level 3 assets ? Anybody recognized that in all that "earnings hype" not any single media commentator mentioned level 3 assets ???