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Goldman Sachs (GS) played a key role in helping Greece hide its true debt levels, reports Der...
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Wednesday, February 10, 2010, 8:04 AM ETGoldman Sachs (GS) played a key role in helping Greece hide its true debt levels, reports Der Spiegel. In 2002, Greece and Goldman "devised a special kind of swap with fictional exchange rates" that created additional credit of up to $1B for the debt-laden country.
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There has been many occasions where they go directly against their clients interests.
I wonder if they brokered any long securities or derivatives on Greek debt to clients in the last few years?