How Goldman Sachs Helped Mask Greece’s Debt
2012 02 27

From: youtube.com



Nick Dunbar, author of ’The Devil’s Derivatives’, reveals how the country turned to investment bank Goldman Sachs for help getting around the deficit rules.

In his report for Newsnight, some of those who did the deal, talk publicly for the first time.

Source: youtube.com

Vampire Squid" Goldman Sachs confesses it is being investigated for helping Greece hide its debts



From: redicecreations.com

Goldman Sachs has admitted that it is under investigation for helping Greece to hide its vast debts.

The controversial Wall Street bank - nicknamed the Vampire Squid because its tentacles stretch far and wide - is accused of having profiteered out of a complex currency deal that helped Greece massage its finances.

In a regulatory filing in the U.S., Goldman disclosed that is ’subject to a number of investigations and reviews by various governmental and regulatory authorities in connection with its financial transactions with Greece.

The European Commission has already been probing the bank’s relationship with Athens. It is unclear from the disclosure, how many other countries might be looking into its dealings with the Mediterranean state.

The Wall Street giant is claimed to have received as much as £192m in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan.

The so-called ’swap’ deal helped Greece meet eurozone limits on government borrowing.

Read more: "Vampire Squid" Goldman Sachs confesses it is being investigated for helping Greece hide its debts



Related Articles


Latest News from our Front Page

"A world of pure imagination": How Occupy turned to anarchy
2014 04 17
In the closing ceremonies of London’s 2012 Summer Olympics, comedian Russell Brand, perched atop the Beatles’ "Magical Mystery Tour" bus, opened his performance by singing the first lines of "Pure Imagination" from the movie Willy Wonka: Come with me And you’ll be In a world of Pure imagination ...
Artists ’have structurally different brains’
2014 04 17
Artists have structurally different brains compared with non-artists, a study has found. Participants’ brain scans revealed that artists had increased neural matter in areas relating to fine motor movements and visual imagery. The research, published in NeuroImage, suggests that an artist’s talent could be innate. But training and environmental upbringing also play crucial roles in their ability, the authors report. As in many areas ...
NSA-proof email service goes online
2014 04 17
A new email service that protects its users from the prying eyes of the NSA and other spy agencies has gone online. The service’s creators say it will make encrypted messaging accessible to all and curtail internet snooping. Germany-based Lavaboom was inspired by Lavabit, the encrypted email service that was believed to have been used by whistleblower Edward Snowden before it ...
Investigative Journalist Michael C. Ruppert Dead After Lifelong Struggle With Mental Illness
2014 04 17
We’re sad to hear the news about the death of Michael Ruppert. Rest in Peace. From Collapse Network, which is being constantly updated with new information: There is absolutely no doubt or question about it, Mike Ruppert took his own life. Rest in Peace, my brother. Wes Wesley T. Miller President & CEO Collapse Network, Inc. ******* I have been informed that MCR has committed suicide. I ...
Cyclopean Masonry: A Mystery of the Ancient World
2014 04 16
They don’t make things like they used to, and that is, in some cases, a monumental understatement. Silly wordplay notwithstanding, there is something to be said for the construction techniques of the old world. Where modern buildings are designed to withstand the elements; wind, temperature extremes, earthquakes and floods, today’s engineers have to strike a balance between economics ...
More News »