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Posted by on Feb 14, 2010 in Business, TG Roundup

Goldman Invoved in Greece’s Crisis

Tachedda kothi vanamella cherise (or Ta chedina koti vanamella jerise / cherise depending on how you pronounce it in telugu). Goldman apparently helped Greece to hide the debt from their healthcare system.The plan resulted in banks providing cash to Greece in return for deferred interest payments from the government. where as these are loans for paying off the country’s liabilities , but were made to believe as investments.

Funny thing is Goldman gave the same plan to Greece in 2001 and charged 300 millions but this time around in Nov 2009 Greece said thanks but no thanks to Goldman.

I am sure Mohan garu might love Goldman even more. While all these plans are done under the “Legal” clause, they did nothing but exploit the system loopholes only to cause more damage to the economy. The European union is having issues as a result.

3 Comments

    • Thanks Mohan Garu, I am sure the large Ambassador Dickies (trunk) came in handy during that time. The more you know about it , the more things look the same whether its America or India.

  1. Bhanu,

    I am not at all surprised. Reports about GS role in Greece have been circulating for a while. Nevertheless, I am not at all surprised. The other NY Times story that caught my attention this week is this:

    http://www.nytimes.com/2010/02/14/nyregion/14fed.html?pagewanted=1

    Since the end of 2008, Bloomberg reporter Mark Pittman has been constantly going after the Federal Reserve Board for obtaining documents about bailout under the Freedom of Information Act. He died mysteriously in November 2009.

    Have you heard about Nagarwala?