CitiEnronGroup

Via Calculated Risk, Citigroup (which just fired, I mean let resign, their CEO) not only wrote off an additional $8-12 billion (what's a $4 billion range? a rounding error?), but have $134.8 Billion in "Level 3" assets, which are defined as:

Level 3—Model derived valuations in which one or more significant inputs or significant value drivers are unobservable.

In other words, Citibank has $134.8 billion in "assets" that are as easily valued as a collection of baseball cards.