. the primary cause for the goodwill impairment at december 31 , 2008 in the above reporting units was rapid deterioration in the financial markets , as well as in the global economic outlook particularly during the period beginning mid-november through year-end 2008 . the more significant fair value adjustments in the pro forma purchase price allocation in the second step of testing were to fair value loans and debt and were made to identify and value identifiable intangibles