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Brain -> Wall St. Helped Greece to Mask Debt Fueling Europe's Crisis (2/14/2010 2:10:32 PM)
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Somebody needs to “kick these companies in the nuts” with serious regulations.
Wall St. Helped Greece to Mask Debt Fueling Europe's Crisis
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.
http://www.nytimes.com/2010/02/14/business/global/14debt.html?th&emc=th
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