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

Seven Points of Agreement Between Individuals
2014 10 02
In what follows, underlined words are my modifications to the original (cite given at the end) "Seven Points of Agreement Between Individuals" -- a binding contract entered into by individuals with other individuals so as to create a society within which individual sovereignty is upheld. These agreements are thought by the author of the book within which they appear to ...
If Someone Secretly Controlled What You Say, Would Anyone Notice?
2014 10 01
The subject enters a room in which a 12-year-old boy is seated. A 20-minute conversation ensues. The subject quizzes the boy about current events and other topics to get a sense of his intelligence and personality. But the boy is not what he appears to be. Unbeknownst to the subject, the boy is wearing a radio receiver in his ear, and ...
Obama has had accurate intelligence about ISIS since BEFORE the 2012 election, says administration insider
2014 10 01
‘President Barack Obama’s intelligence briefings have provided him with specific information since before he won re-election in 2012 about the growing threat of the terror group now known alternatively as ISIS and ISIL, an administration insider told MailOnline on Monday. ‘Unless someone very senior has been shredding the president’s daily briefings and telling him that the dog ate them, highly accurate ...
Can holding a magnet against your head help defeat depression?
2014 10 01
Former GP Sue Mildred suffered from crippling depression and anxiety for 20 years. On two occasions it was so severe that she ended up in hospital, and for 15 years she was unable to work. Sue, 51, has tried antidepressants, talking therapies and, out of desperation, even ECT (electro-convulsive therapy), where an electric current is passed through the brain. This did ...
Extremists to have Facebook and Twitter vetted by anti-terror police
2014 09 30
Theresa May to announce new Extremist Disruption Orders to strengthen counter-terrorism if the Tories win the next general election Extremists will have to get posts on Facebook and Twitter approved in advance by the police under sweeping rules planned by the Conservatives. They will also be barred from speaking at public events if they represent a threat to “the functioning of democracy”, ...
More News »