Goldman Sachs unavailable to comment on its role in Greek swaps

Discussion in 'Wall St. News' started by wilburbear, Feb 15, 2010.

  1. Goldman always keep his mouth shut, always.
  2. how are they gonna stay shut up when they are questioned in a senate hearing?

    I am dying to see that
  3. That won't happen. They are all buds. If it happens they will get a soft pitch.
  4. bone

    bone ET Sponsor

    Just follow the generous campaign contributions. And the recent Supreme Court decision.
  5. Why would they go there for a deal done in Greece ;-)
    Think about it. It's money in the bank for the US.
    Same thing as fucking hard on Toyota. Bash on the succesfull foreign company = drop in sales = higher sales of US cars = more jobs in the US :eek:
    How fair is that?
  6. In the german mag story someone posted it said that the exchange rates used in the swap were fictional. Is that legal?,1518,676634,00.html

    "But in the Greek case the US bankers devised a special kind of swap with fictional exchange rates. That enabled Greece to receive a far higher sum than the actual euro market value of 10 billion dollars or yen. In that way Goldman Sachs secretly arranged additional credit of up to $1 billion for the Greeks. "

    It reads like the gov't was defrauding the people pf Greece by kicking the bill down to a later time when the ones doing the deal presumably would be out of power already. Of course, they needed help to do that...
  7. if you were to do this with your broker, it would be a crime.
  8. Frank Partnoy in his book Fiasco described several deals that MS did with Japanese counterparts. If you have not read it, take a look. It does resemble Liars Poker, but with its own twist.

    Somewhat relevant to this thread as well.
  9. Didn't you get the memo? GS owns the FED.
    #10     Feb 17, 2010