Lest we forget that everyone’s favorite investment bank played a key role in the Greek tragedy that has been playing out for over two years now, this BBC video reminds us how some complex financial engineering by Goldman Sachs helped mask Greece’s debt for years, that is, right up until a new government was elected.
The term “loan shark” comes to mind when listening to this depiction of what Goldman did and, paraphrasing former Fed Chairman Paul Volcker, financial innovation that, over the long-run, benefits the economy stopped with the ATM machine.











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and the video is … where exactly? i’ve viewed this post in safari and firefox and, unless i’m blind, you left out the link
thanx
Comes up fine for me in Firefox and Explorer.
Here’s a link to the BBC page:
http://www.bbc.co.uk/news/world-europe-17108367