Fed Reviewing Goldman’s Moves on Greek Debt

The Federal Reserve is examining the financial stratagems devised by Goldman Sachs and other big banks to help Greece mask its burgeoning debt over the last decade.

Ben S. Bernanke, the Federal Reserve chairman, said in testimony before Congress on Thursday that the Fed was “looking into a number of questions relating to Goldman Sachs and other companies related to their derivatives arrangements with Greece.”

Mr. Bernanke added that the Securities and Exchange Commission was also concerned about how derivatives — financial instruments which are largely unregulated and do not trade on public exchanges — have contributed to Greece’s problems.

Read Full Article from New York Times

- Posted: 2010-02-25 10:47:28

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