Sunday, February 26, 2012

5* How Goldman Sachs  Helped
Greece Get To Where It Is Today
Nick Dunbar, author of The Devil's Derivatives, reveals how Greece turned to investment bank Goldman Sachs for help getting around the deficit rules that they were supposed to follow .. in this report for Newsnight, some of those who did the (legal but devilish) deal talk publicly for the first time .. 10 minutes 
[Cliff Küle Prediction: The day is coming when the Western world will understand & regret the development of 'SWAPS'. SWAPS can be used for sneaky ways to get around rules .. not criminal according to the 'letter' of the law, only breaking the 'spirit' of the law. Swaps condone & endorse Enron's type of 'off balance sheet accounting'. The question remains whether people will ever understand that the source of the problem was the unconstitutional act of assigning an authority with power to get away with it.
A free market would not accept this skullduggery. God willing, some day America will return to free markets & to the principles of money in Article I in the U.S. Constitution]

1 comment:

Anonymous said...

great post!
FE