NY Times picks up Goldman link to Greek financial problems

I mentioned this the other day following an article in Der Spiegel. How does Wall Street manage to cause so much damage, yet remain in such high regard among the political leaders around the world? It’s sickening that the EU has not yet fully supported Greece. Countries moved faster to bail out the banks but moving to rescue a country is somehow a more difficult decision. Also, how do the politicians who agreed to these deals not be sent to prison? NY Times:

Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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