Matt Taibi, when he wrote about the “vampire squid” was writing about the financial sector but I wonder if he was including Goldman Sachs’ ventures in countries like Greece. I know that Greece did some creative accounting to qualify for their entry into the Eurozone but after that, Goldman Sachs came in and really did some of their good old razz-ma-tazz unfortunately to Greece’s detriment and to Goldman Sachs increased fortunes. In every article about the “euro sovereign debt crisis” the actions taken by the global Big Banks are never explained or analyzed, it begs the question how much of this buying and selling of debt was transformed into exotic financial instruments that further exacerbated the problem? Did the banks play the same games overseas as they did here with the sub-prime mortgage loans? It doesn’t seem fair that average people have to pay an enormous price for the financial games that the banks play and the banks never have to pay for there mistakes and greed.
Read the Article at HuffingtonPost
Greece Threatens To Ditch The Euro If Second Bailout Not Finalized
03 Tuesday Jan 2012