Goldman Sachs tricky derivatives trades may have masked the Greek debt just long enough to hurt all of us again. Goldman Sachs made up an exchange rate that allowed the Greeks to look as though they were only engaging in a currency swap when, in effect, they were getting more than a billion more than they should have from the trades in credit. Its likely that Goldman made a killing on the commissions for the swaps, and then sold the swaps to a Greek bank for even higher profits.
Video Rating: 4 / 5
Tags: crisis, Goldman, Greek, responsible
|
1 Euro (EUR) converts to 1 Euro (EUR) converts to 1 Euro (EUR) converts to 1 Euro (EUR) converts to 1 Euro (EUR) converts to 1 Euro (EUR) converts to |
United States Dollars (USD) Japanese Yen (JPY) Canadian Dollars (CAD) Indian Rupees (INR) Swiss Franc (CHF) Pounds Sterling (GBP) |
|
1 US Dollar (USD) converts to 1 US Dollar (USD) converts to 1 US Dollar (USD) converts to 1 US Dollar (USD) converts to 1 US Dollar (USD) converts to |
Australian Dollars (USD) Canadian Dollars (CAD) Japanese Yen (JPN) Indian Rupees (INR) Pounds Sterling (GBP) |
|
1 Pound Sterling (GBP) converts to 1 Pound Sterling (GBP) converts to 1 Pound Sterling (GBP) converts to 1 Pound Sterling (GBP) converts to |
Canadian Dollars (CAD) Indian Rupees (INR) Chinese Yuan (CNY) Japanese Yen (JPN) |