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Underreported: How Goldman Sachs Helped the Greek Government Paper Over Its Debt

Thursday, February 11, 2010

On today’s first Underreported, Stacy-Marie Ishmael of the Financial Times explains how Goldman Sachs used a derivatives deal to help Greece’s government hide how serious their debt was. Plus, an update on the negotiations in Europe to bail out Greece.

We discussed Greece's public debt in December. You can listen to that interview here.

Guests:

Stacy-Marie Ishmael

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Comments [4]

Amy from Manhattan

I don't think I've heard the expression "things went pear-shaped" before--could you ask Pat O'Conner about it next time she's on? I get the basic idea (I think), but I'd like to know for sure.

Feb. 11 2010 04:02 PM
Taher from Croton on Hudson

IMF austerity measures would drive many Greeks into poverty. That will lead to civil disorder and possible instability in the Balkans where instability is name of the game. The IMF simply represents large international banking interest with little concern what a populations have go through. No, it is not as simple as school mum disciplining a classroom. Population suffers.

Feb. 11 2010 01:57 PM
Harry Kolos from Brooklyn, NY

Is there a real chance that Greece's financial woes could bring down the value of the Euro for all of Europe?

Feb. 11 2010 01:33 PM
HMI from Brooklyn

Is what GS did for Greece unique? Did GS (other firms?) Did GS do this for other countries?

Feb. 11 2010 01:30 PM

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