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Greece got about $1b from 85 Broad via a swap. They had approximately $300b in additional debt. This article exists because many readers like to pretend that
by mos1 17y ago
Greece got about $1b from 85 Broad via a swap.
They had approximately $300b in additional debt.
This article exists because many readers like to pretend that bankers are the root of all evil.
- dsplittgerber 17y agoWhen I read this article, I felt that hypocritical governments are the root of all evil here. Goldman just did the job it was paid for. But Greece duped the EU into believing it fulfilled its membership criteria, got away with faking statistics and hiding true debt levels for a long time and is probably getting away with it all by being bailed out. So who are (EU) governments to criticise banks for acting the way they do when they tolerate it amongst themselves?
- vtnext 17y agoJust because bankers are not the root of all evil does not mean they are not evil. The key message is that bankers do a lot more damage than good with the money and leverage handed to them by the govt. Their positive impact on the economy has been vastly overstated, and the public is increasingly wise to that scam.