"With Greece groaning under the weight of its debts and with its richer neighbors vowing to come to its aid, the deals over the past decade are raising questions about Wall Street’s role in the world’s latest financial drama"
Related: Crisis in Greece Threatens Global Government
Once you read this story you will realize that global government is dead -- and Goldman Sachs killed it.
"Wall St. was partner in Greece’s debt crisis" by Louise Story, New York Times | February 14, 2010
NEW YORK - Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.
Did the "firm’s practice of selling mortgage-backed securities and then betting against them" help Goldman's to profit from your woes, Greece?
As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decadelong effort to skirt European debt limits. One deal created by
It is OVER, globalist scum -- and Goldman's ruined it for you!!
Even as the crisis was nearing the flashpoint, banks were searching for ways to help Greece forestall the day of reckoning.
Well, IT IS HERE NOW!!!
In early November - three months before Athens became the epicenter of global financial anxiety - a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting.
The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.
That can't be a good move for any government -- or anyone else for that matter.
It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions of dollars, people familiar with the transaction said.
Except it DIDN'T WORK and HASN'T WORKED!
That deal, hidden from public view because it was treated as currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means.
At this point AmeriKans really ought to be worried!
Athens passed on the latest Goldman proposal, but with Greece groaning under the weight of its debts and with its richer neighbors vowing to come to its aid, the deals over the past decade are raising questions about Wall Street’s role in the world’s latest financial drama.
As in the US subprime crisis and the implosion of the
I see an UNRAVELING of the WHOLE THING, folks!
You can not tell me the globalists planned this!
They also got F***ED by the bankers, readers!!!
In dozens of deals across the continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books. Greece, for example, traded away the rights to airport fees and lottery proceeds in years to come.
Yup, YOUR PUBLIC SERVANTS working for YOU, voters!!
And YOU ARE F***ED unless you REJECT THIS WHOLE THING!
F*** the BANKSTERS and their DAMN DEBT!!!
They don't like it?
Yeah, the BILLIONS in BONUSES from TAXPAYER LOOT PISSED US OFF -- and now THIS!!
Critics say that such deals, because they are not recorded as loans, mislead investors and regulators about the depth of a country’s liabilities.
Isn't that Wall Street's job?
The crisis in Greece poses the most significant challenge yet to Europe’s common currency, the euro, and the continent’s goal of economic unity.
Good!! Maybe I should be THANKING those f***ing thieves at Goldman!!!
Say GOODBYE to the New World Order!!!!
The country is, in the argot of banking, too big to be allowed to fail.
NO SUCH THING unless you are a globalist puke.
Greece owes the world $300 billion, and major banks are on the hook for much of that debt.
Then they will just have to EAT IT!!!!
A default would reverberate around the globe.
Why?
It is only PAPER MONEY which is increasingly worthless being paid back to looting banksters for bonuses and phantom profits.
Oh, right, that would reverberate.
A spokeswoman for the Greek Finance Ministry said the government had met with many banks in recent months and had not committed to any bank’s offers. Goldman and JPMorgan declined to comment.
Wall Street has been sharply criticized in Greece and in magazines such as Der Spiegel, the German newsweekly.
Yeah, the MASK is OFF and the world SEES the TRUE FACE of GLOBALIZATION, folks -- and they DO NOT LIKE what they see!!!!
“Politicians want to pass the ball forward, and if a banker can show them a way to pass a problem to the future, they will fall for it,’’ said Gikas A. Hardouvelis, an economist and former government official who helped write a recent report on Greece’s accounting policies.
Then we should behead those bastards, too!!!!!!!!!
And did you know that Goldman Sachs has been neck deep in every ugly financial meltdown in the
And now they are going to BRING DOWN the GLOBAL ECONOMY!!!
And if you are still not convinced of the seriousness of the crisis, I give you this:
"Retail gains may aid growth; But storms could slow Feb. sales" by Martin Crutsinger, Associated Press | February 13, 2010
WASHINGTON - A debt crisis in Greece has plunged the euro, the currency used by 16 European nations, into the worst turmoil since it was launched 11 years ago. Financial markets fear a domino effect that could derail a global rebound....
Yeah, the MSM tried to bury it in some happy horse shit about shopping.
A modestly better-than-expected report on retail sales for January could suggest stronger economic growth in coming months. But this week’s severe snowstorms will probably depress activity in February....
A second report that showed consumer confidence slipped in early February....
Some analysts said the unsettled global economy is eroding confidence that the United States can sustain a recovery from the worst recession in decades....
What recovery?
Related: Bombshell: Goldman Sachs Helped Greece Cover Up Its Huge Debt
