Greece - Not Unique (once again)

Early in 2010 I posted the following pieces:
 Feb. 18 2010   Greece NOT Unique, and
 Feb. 22 2010  Greece NOT Unique Confirmed

In a speech before the UK Treasury Select Committee the Chairman of Goldman Sachs Bank, Gerald Corrigan, who also happens to be a former New York Fed President (and people still wonder where Tim Geithner will end up) noted that it is not Goldman who is at fault in the whole Greek swap fiasco but Eurostat, "which was consulted on the transaction at the time it was entered into and which offered no objection." What is troubling is Corrigan's revelation that "Goldman Sachs was by no means the only bank involved with countries in these types of transactions...These transactions were not limited to Goldman Sachs and Greece." Just whose debt numbers will be put under the microscope next?

It's taking a long time but the Greek people are finally doing what any entity thats been defrauded by corrupt management has a right to do.. disown the trade, seek redress and prosecute the guilty.
Good Luck Greece.


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