It doesn’t matter how you make the money, what matters is how much you make. Goldman Sachs look like they are again trying their best to drag the financial markets good name through the dirt, all in the name of a fast buck. Those interviewed in this Bloomberg report seem to be in little doubt that this latest example of financial engineering succeeded in helping GS and Greece get a better price for securities by arranging a currency swap which hid Greece’s true deficit problem. Doesn’t this sound all very familiar and didn’t our financial system nearly come a cropper because of dodgy financial engineering. If this turns out to be true, then I hope somebody’s got a big book to throw.
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