Wednesday, February 17, 2010

Goldman sacks Greece

Goldman Sachs Group Inc. managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit.
Of course, hiding risk from investors is Goldman Sachs modus operandi, so it must be legal, or as Greek Finance Minister George Papaconstantinou said, they were "“at the time legal".

We are wondering what other countries might have connived with GS in this type of deal. Time will tell, perhaps.


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