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There is just no stopping those Goldman Sachs guys!


"New details have also emerged about Goldman’s role in helping Greece hide its debt so it could qualify for membership in the European Union. In a Bloomberg News story out this week, Greek officials talk about how they didn’t truly understand the complex swaps contracts they were buying from Goldman bankers from 2001 to 2005, and that each time Goldman restructured the deal, things got worse for Greece.

The story reads like a cautionary tale of a homeowner who keeps returning to the same contractor to repair the damage done by the previous fix-it job. At one point, Goldman prohibited Greece’s debt manager, Christoforos Sardelis, from seeking outside price quotes on the complicated derivatives Goldman was selling to Greece. It’s difficult to say whether Europe would be in better shape today if Greece had come clean about its debts back in 2001, but helping Greece dupe regulators by disguising billions of dollars’ worth of sovereign debt hardly qualifies as “doing God’s work,” as Goldman Chief Executive Officer Lloyd Blankfein told a reporter in 2009."

By the way, have you seen anyone at the "firm" prosecuted for their clear "involvement" in the GFC?   With Obama at the helm, unlikely!

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