“Greece actually executed the swap transactions to reduce its debt-to-gross-domestic-product ratio because all member states were required by the Maastricht Treaty to show an improvement in their public finances,” Laffan said in an e- mail. “The swaps were one of several techniques that many European governments used to meet the terms of the treaty.”

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Nowhere does the article give the reason for the "money", transaction, or whatever you want to call it being done in the first place. "Improvement in their public Finances" (That comes closest) Go further and you will see, that they had no money to pay for "Cradle to Grave Entitlements". And when the Gov. suggested they had to take a CUT (not lose the entitlements completely) They Rioted.

“Sardelis couldn’t actually do what every debt manager should do when offered something, which is go to the market to check the price,” said Papanicolaou, who retired in 2010. “He didn’t do that because he was told by Goldman that if he did that, the deal is off

And THIS didn't raise a Red Flag?? What AMAZES ME is that Sardelis has ANOTHER JOB IN BANKING!!!

Goldman set the terms and He agreed to them..........Why would anyone blame Goldman??

Well said. In fact, Greenspan and officials at the Fed were warned early on about this by the very people who invented the derivatives and related instruments. Their warnings were ignored.

The fact is Greece would not be in the position it is in if it weren't for getting into bed with Goldman Sachs.

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Thats Wrong! So you're saying Sardelis "Didn't understand"? And YET, He's Hired by another Bank! Maybe ALL the Greeks are just plain stupid? Their "Cradle to Grave" mentality is the MAIN reason they got in trouble (and still are) in the first place. (If not Goldman it would have been someone else) BUYER BEWARE! IGNORANCE IS NO EXCUSE! IF SOMETHING LOOKS TOO GOOD TO BE TRUE..IT ISN'T.

YOU and the author blame Goldman........I Blame GREECE!

"Maybe ALL the Greeks are just plain stupid? "

That's an (ironically) stupid rhetorical question (statement).

Personally, I am going to side with the people who actually know something about Greece. That leaves him out.

Bernie was a job-creator.

I side with the Obama Administration on most things, but including ex-Goldman execs on his economic team was a huge error, IMO. About the only justification for it I can think of is that it takes a crook to know how to deal with the crooks.

Bernie Madoff is people too, my friend

That's an (ironically) stupid rhetorical question (statement).

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No more stupid than him blaming all of Greeces problems on Goldman.

Yeah, I do!!...............GREED (The People who invested with him) IS/ARE to Blame. Without GREED there can be no B Madoffs

From: shambert 11:44 am
To: Gotye (9 of 14)
496527.9 in reply to 496527.8
Personally, I am going to side with the people who actually know something about Greece. That leaves him out.

Options++++++++++++++++++++++++++++++

There's Shamby for you.......Mr Jack of all, and Master of NONE. What YOU KNOW about Greece would fit on the head of a pin.

From: shambert 12:00 pm
To: Gotye unread (13 of 14)
496527.13 in reply to 496527.10
I side with the Obama Administration on most things, but including ex-Goldman execs on his economic team was a huge error, IMO. About the only justification for it I can think of is that it takes a crook to know how to deal with the crooks.

Options ++++++++++++++++++++++++++++++

VERY TRUE

And OUR head CROOK (BHO) should certainly know how to deal with the Jokers HE HIRED from Goldman

Well Done Mr "CROOK"

"GREED"

That makes sense. i guess you're not voting for that greedy pig that's running for POTUS

" (The People who invested with him) IS/ARE to Blame."

God forbid anyone would want to get a consistent 12-20% return on their investment.

"Without GREED there can be no B Madoffs"

Without greed there would be no capitalism and that's just unAmerican.

LOL! Well said!