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And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!

 
Anonymous Coward
User ID: 896466
Canada
02/20/2010 06:43 PM
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And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
THIS SHIT AIN'T FUCKING POSSIBLE!!!!!!!!!

[link to www.zerohedge.com]

And so the tragicomic becomes surreal. Yesterday’s news about the departure of the head of the debt management agency, Spyros Papanicolaou, was somewhat of a yawner, until we realized that his replacement would be none other than Petros Christodoulou, who until today was head of Private Banking and Group Treasury at the National Bank of Greece (reporting directly to the CEO of the NBG Tamvakakis), as can be seen on the org chart below. Yet what is oddest, is that Mr. Christodoulou worked not only as head of derivatives at JP Morgan but also held comparable posts at Credit Suisse, and… wait for it, Goldman Sachs… Uh, say what?

Petros’ profile from Forbes:

Petros Christodoulou, born 1960, is the General Manager of Treasury, Global Markets and Private Banking. Before joining the Bank in 1998, he worked in various positions in Global Markets for Credit Suisse First Boston and for Goldman Sachs. Additionally, at JPMorgan he led the derivatives desk, followed by the short-term interest-rate trading and emerging markets division in London as Managing Director. He is a member of the Investment Committee of EH and the Foundation for Economic and Industrial Research. He holds a BSc from the Athens School of Commerce and Economics and an MBA in International Financial Markets from Columbia University.

But, but, we thought it was all Goldman Sachs’ fault for annihilating Greece? Wasn’t it all Goldman’s fault for fully (not) disclosing the terms of its nearly decade worth of swaps, which apparently were obvious to Risk magazine but oh so incomprehensible to Eurostat. Although it may all be good – it appears that Greece has found a new enemy. Reuters now reports that Greek opposition lawmakers said on Thursday that Germans should pay reparations for their World War Two occupation of Greece before criticising the country over its yawning fiscal deficits.

The fact that Greece’s survival is now reliant on Germany’s goodwill, seems to be lost on everyone.

We can not wait for the next installment in this ever more fascinating soap opera.
Anonymous Coward
User ID: 283256
United States
02/20/2010 07:54 PM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
Maybe Greece has been selected as the place to park those quadrillions in derivatives that will soon be utterly worthless. Or maybe the Greek people will take his head which is what they should do.
Anonymous Coward
User ID: 791458
Canada
02/20/2010 08:00 PM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
This Goldman Sachs never stops shocking me.
Anonymous Coward
User ID: 791458
Canada
02/20/2010 08:01 PM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
This Goldman Sachs never stops shocking me.
 Quoting: Anonymous Coward 791458


Oh and five stars great find.
Anonymous Coward
User ID: 791458
Canada
02/21/2010 05:10 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
bump
Ostria

User ID: 896795
Greece
02/21/2010 05:20 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
Or maybe he knows the game from the inside and could be useful... we will see!
Anonymous Coward
User ID: 896818
Malaysia
02/21/2010 05:35 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
bump
Anonymous Coward
User ID: 510267
United States
02/21/2010 05:37 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
Or maybe he knows the game from the inside and could be useful... we will see!
 Quoting: Ostria

I'm sure he will be useful, but to whome?
Anonymous Coward
User ID: 519048
Netherlands
02/21/2010 05:42 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
Wow. Thanks. I was wondering why "little Greece" for after all they are a drop in the bucket, in terms of world GDP and so, was causing such an effect on Wall Street.

Now we know why.
Anonymous Coward
User ID: 896058
Puerto Rico
02/21/2010 06:29 AM
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Re: And the scam continues! New head of Greek Debt Office is former Goldman Investment Banker!
That's like so crazy, who would do something like that?

It would be like naming a Secretary of Treasury the guy that helped create the financial mess so that he could help his old company by giving them billions, wait, sounds like what happened with Henry Paulson, another Goldman Sachs alumni.

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