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Report: Goldman Sachs Helped Greece Hide Mounting Debts

HeadlineFeb 15, 2010

The New York Times reports Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the European financial crisis by enabling governments to hide their mounting debts. One deal created by Goldman Sachs helped Greece obscure billions in debt from the budget overseers in Brussels. Goldman Sachs is said to be the most important of more than a dozen banks used by the Greek government to manage its national debt using derivatives.

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