Godlike Productions - Discussion Forum
Users Online Now: 2,800 (Who's On?)Visitors Today: 574,062
Pageviews Today: 1,869,317Threads Today: 1,053Posts Today: 20,200
09:56 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Wall St. Was Partner In Greece's DEBT Crisis !

 
Warbucks O'Bibble
User ID: 874848
United States
02/14/2010 12:30 PM
Report Abusive Post
Report Copyright Violation
Wall St. Was Partner In Greece's DEBT Crisis !
Does this come as any surprise ?

This is interesting...and, a pretty typical assessment of today's blind greed factor...every known greed gambit has been in play in Greece for many, many years ! As the mighty J. Giels Band once said in song, "Serves you right to suffer !" The domino that could take
the world down with it continues to tip...


[link to www.boston.com]
Wall St. was partner in Greece's debt crisis

[Photo caption - Two women walked inside the Athens stock exchange Friday. Greece has become
the epicenter of global financial anxiety. (Yiorgos Karahalis/ Reuters)]

By Louise Story
New York Times / February 14, 2010

NEW YORK - Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.

COMMENTS (7)

As worries over Greece rattle world markets, records and interviews show that with Wall Street's
help, the nation engaged in a decadelong effort to skirt European debt limits.
One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

Even as the crisis was nearing the flashpoint, banks were searching for ways to help Greece
forestall the day of reckoning.
In early November - three months before Athens became the
epicenter of global financial anxiety - a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting.

The bankers, led by Goldman's president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece's health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.

It had worked before. In 2001, just after Greece was admitted to Europe's monetary union, Goldman helped the government quietly borrow billions of dollars, people familiar with the transaction said. That deal, hidden from public view because it was treated as currency trade
rather than a loan,
helped Athens to meet Europe's deficit rules while continuing to spend beyond
its means.

Last Edited by SHR on 09/03/2011 02:47 PM
Anonymous Coward (OP)
User ID: 874848
United States
02/15/2010 12:43 AM
Report Abusive Post
Report Copyright Violation
Re: Wall St. Was Partner In Greece's DEBT Crisis !
bump ing because I can !
Anonymous Coward
User ID: 866740
United States
02/15/2010 12:49 AM
Report Abusive Post
Report Copyright Violation
Re: Wall St. Was Partner In Greece's DEBT Crisis !
bump





GLP