EU Now Investigating Use Of CDOs And Other Derivatives
Well, that spares some wholesale problems for individual countries to pursue action against Goldman. The EU's Rehn, who earlier catalyzed the upmove in the market by saying what the EU has been saying for week, i.e., that Europe can provide aid to Greece if Greece requests it (no seriously, the same headline repeated 1,000,000 times will push the market green every single time). But his latest is that the "EU is investigating use of CDO's and other derivatives." We are confident that all cash strapped countries, which are so because they ended up blowing money by bailing out their banks who gorged on CDOs (yes, if you are a European country, the sucker on the table is you), will suddenly find more reasons to go after Goldman. If nothing else, it will make Tuesday's congressional hearing a more watched event than the superbowl. To that end, we have inquired about a 30 second advertising spot with C-SPAN.