arion
Well G.S. did a big deal with Greece which cost the Greek people a lot of money in the end. It was done in secret.
Goldman Secret Greece Loan Shows Two Sinners as Client Unravels
by Nicholas DunbarElisa Martinuzzi
March 6 (Bloomberg) -- Greece’s secret loan from Goldman Sachs Group Inc. was a costly mistake from the start.
On the day the 2001 deal was struck, the government owed the bank about 600 million euros ($793 million) more than the 2.8 billion euros it borrowed, said Spyros Papanicolaou, who took over the country’s debt-management agency in 2005. By then, the price of the transaction, a derivative that disguised the loan and that Goldman Sachs persuaded Greece not to test with competitors, had almost doubled to 5.1 billion euros, he said.
http://www.bloomberg.com/news/artic...ece-loan-shows-two-sinners-as-client-unravels
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