Economics & Finance
March Wed 03, 2010
Lloyd Blankfein the current chairman of Goldman-Sachs, you know, the firm that specializes in making money by adding no value whatsoever, yeah, the firm implicated over the past week or so for less than above-the-board dealings with the Greek government to keep a lot of deficit spending off their books so that Greece could appear to be adhering to the mutually agreed upon European Union guidelines for countries participating in the common currency, known as the euro, stated last November that he and his firm are doing "God's work."
Greece's malfeasance, aided and abetted by our friends at Goldman, has caused the common European currency to drop significantly in value and it has been learned that Goldman is working with other European governments on similar schemes. So, instead of borrowing money to cover their deficits, Greece had an off-the-books arrangement with Goldman, involving derivatives, that had the effect of misleading investors and the EU about Greece's financial health. These dealings are well explained by Beat Balzli, writing for the international edition of the German magazine Der Spiegel, which is published in English. The article is called, How Goldman Sachs Helped Greece to Mask its True Debt.
When queried about their Greek dealings, Goldman says they were only doing what Greece wanted, which caused Harry Shearer on yesterday's installment of his weekly radio program, Le Show, to accurately observe: "Yes. Goldman-Sachs has gone, ladies and gentlemen, since last November when the chairman, Lloyd Blankfein, said 'we're doing God's work,' they've gone from that to the hooker's defense: 'well they wanted it'." I think in the comprehensive reform of our finance laws, which Congress will no doubt get to once they finish with healthcare reform, there should be laws against pandering of the kind routinely engaged in by these international hustlers.
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