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Fed Looking Into Goldman Sachs’ Role in Greek Debt Crisis

Posted on Feb 25, 2010
Flickr / antiparticle

Goldman in the storm: Storm clouds hover over the Goldman Sachs building in Jersey City, N.J.

It’s not the only financial institution involved, but Goldman Sachs features prominently among the companies that the Federal Reserve is investigating in relation to Greece’s recent debt calamity, Fed chief Ben Bernanke told the Senate Banking Committee on Thursday.

For more on Goldman and Greece, check out this recent column by Truthdig’s Robert Scheer.


“We are looking into a number of questions related to Goldman Sachs and other companies and their derivatives arrangements with Greece,” Bernanke said in testimony before the Senate Banking Committee.

The European Union has demanded that the Greek government provide details of how it used currency swaps and other instruments.

Greece in 2001 borrowed billions, with the aid of Goldman Sachs [...] in a deal hidden from public view because it was treated as a currency trade rather than a loan.

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By no credit check loans, September 6, 2011 at 4:52 am Link to this comment

I am not against people making money they worked for… but when it victimizes the world in the form of a global financial crisis, grotesque bonuses are paid for this work, they are bailed out by taxpayers in the largest single government program ever, and proportionately very little is returned in the form of taxes… it is by-far THE SCANDAL OF THE CENTURY!!! Then after the $2.506 trillion in financial bailouts funded by US taxpayers (yes TRILLION), they increases bonuses by 17% last year… and due to offshore accounting Goldman only paid an effective tax rate of 1% in 08, while still paying outrageous bonuses built on excessive risk with arcane financial derivatives. No wonder they are referred to as THE MASTERS OF THE UNIVERSE.

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By Payday Loans, June 10, 2010 at 7:42 pm Link to this comment

Quote from news source: ” With Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.”  So where is the auditing practices? Oh my, we her of potential billions diverted with the help from USA Wall street and yet an individual who is in financial difficult can lose their one investment, their family home. Where is the equality and fair trade?

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By ofersince72, February 26, 2010 at 12:46 am Link to this comment

I bet sachs is really really worried

about our government investigating them…

where is that wet noodle…..thirty lashes..

OK,  not thirty lashes we give you 30billion

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