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Goldman role in Greek crisis probed

The US central bank is looking into Goldman Sachs’s role in arranging contentious derivatives trades for Greece, which helped the country to massage its public finances, Ben Bernanke, chairman of the Federal Reserve, revealed on Thursday.

“We are looking into a number of questions relating to Goldman Sachs and other companies and their derivatives arrangements with Greece,” Mr Bernanke said, apparently referring to Greek currency transactions structured by Goldman.

Testifying before Congress, Mr Bernanke also responded to concerns that instability in markets for Greek debt and other securities has been heightened by trading in other derivatives, known as credit default swaps, which compensate investors in case of default.

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SteveMT's picture

Ron Paul asked Bernanke that very question.

Is the Fed involved with bailing out Greece? Guess what?Bernanke said: No.

Lies are his and Goldman's middle name.

northstar's picture

Very true

When will America wake up and see what we see? We're going to end up bailing out the world!

America ... can you say "rising taxes"?

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!

It's just paper and keystrokes

We are not bailing out anyone. The international central bank is extending debt servitude equally among everyone. Taxes are only one of many means of control. Maybe they'll still let folks make signs to complain while fully complying.