a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment
eks  ·  4784 days ago  ·  link  ·    ·  parent  ·  post: You are now aware that Goldman Sachs owns Europe.
Wow, this is scary. I don't know what's worse, pedophile politicians that are more interested in what to do with the little thingy they have between their legs or psychopathic bankers that want profit at the expense of others...

This does not bodes well:

"Mr Draghi has been dogged by controversy over the accounting tricks conducted by Italy and other nations on the eurozone periphery as they tried to squeeze into the single currency a decade ago. By using complex derivatives, Italy and Greece were able to slim down the apparent size of their government debt, which euro rules mandated shouldn't be above 60 per cent of the size of the economy. And the brains behind several of those derivatives were the men and women of Goldman Sachs.

The bank's traders created a number of financial deals that allowed Greece to raise money to cut its budget deficit immediately, in return for repayments over time. In one deal, Goldman channelled $1bn of funding to the Greek government in 2002 in a transaction called a cross-currency swap. On the other side of the deal, working in the National Bank of Greece, was Petros Christodoulou, who had begun his career at Goldman, and who has been promoted now to head the office managing government Greek debt. Lucas Papademos, now installed as Prime Minister in Greece's unity government, was a technocrat running the Central Bank of Greece at the time."