Goldman Issues Press Release On Greek Swaps, Pours More Gas On PR Fire

Tyler Durden's picture

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Missing_Link's picture

Deuteronomy 4:24 For the LORD thy God is a consuming fire, even a jealous God.
25 When thou shalt beget children, and children's children, and ye shall have remained long in the land,

and shall corrupt yourselves, and make a graven image, or the likeness of any thing,

and shall do evil in the sight of the LORD thy God, to provoke him to anger:
26 I call heaven and earth to witness against you this day,

that ye shall soon utterly perish from off the land whereunto ye go over Jordan to possess it;

ye shall not prolong your days upon it, but shall utterly be destroyed.


I presume this is the "God" and the "work" they're referring to.

deadhead's picture


I have upgraded Goldman Sachs from "Goldman Sachs is a clear and present danger to the United States of America" to "Goldman Sachs is a clear and present danger to the entire world".




Anonymous's picture

Right on deadhead! Goldman now enjoys the full faith and credit of the United States via AIG. This sucker is going down...

Anonymous's picture

AMEN. I think the days of kicking the can are about to end.

Anonymous's picture

And as usual they can get away with it....

Anonymous's picture

Mmmm, no, Austin was just the beginning.

WaterWings's picture

The Tea Party movement is a fabrication of big money interests to control popular fervor. There will never be any change as long as the grass roots are intentionally over-fertilized with corporate money - straw-man politics on a massive scale. Joe Stack is being called a "teabagger" - what open bullshit.

See the mythical “Promparty” and “Working Peasant Party” trials in Russia during the purges and consolidation for power. Classic propoganda and psy-op tactics against the People. Same tricks, different century. Heavily monitored wikipedia has little to say. But heroic Solzhenitsyn provided us with insight in his Nobel prize winning expose of the Soviet death machine. 

Here is one of the actors that suppressed the people, and then met an ironic fate:

A Man without Qualities's picture

These transactions did not reduce Greece's foreign debt by €2.367bn, but rather hid this amount (plus GSs juicy p&l) in an off balance sheet instrument.

Whizbang's picture

Sell them sell them sell them. Sell all the Greek CDS you can. In a month you will be buying these things back at 1% compared to the spread now! If greece goes down, The "entire euro" (germany, france, switzerwhore) go down with them. It will not happen!!!

Anonymous's picture

So, to summarize, we did a small, harmless parlor trick which accomplished nothing but collected $300 mil in fees. These transactions were consistent with our money-grubbing principles at that time (and now) and we see nothing wrong with that.

Going Down's picture


'Nuf Said


"Our client's interests always come first."




Anonymous's picture

The largest crook in Europe is actually Belgium who hid a very large ammount of this kind of debt.
As of this moment, specualtations are that this would amount to about 1.6 trillion euro. And for a country that has 10 million people with a working class of 3 million...

Going Down's picture




Feb. 22 (Bloomberg) -- The U.S. Supreme Court rejected an appeal by Pacific Investment Management Co., clearing the way for a lawsuit seeking more than $600 million for the company’s alleged manipulation of the price of Treasury futures contracts on the Chicago Board of Trade.


Anonymous's picture

Welfare queens, nothing but incompetent girls at GS.

Why doesn't GS put their big girl panties on and fight an honest battle in the light instead of shadows??!? Because they would get their asses handed to them in a fair market.

Without uncle sam backstopping them they are utter nonsense as an entity. A complete waste of matter for all those involved.

If you work for Government Sachs you should be ashamed of yourself. In this life you may have money but that's the only thing you have. Certainly no respect from this citizen.

Oh, and by the way, YOU'RE WELCOME!!

Anonymous's picture

What one also has to worry about is if the United States is going to use the taxpayer's money in order to bail out Greece as well, which will most likely happen in my opinion.

It seems like then FX traders will make a shit load of money in the next several years as the US Dollar collapses and new foreign currencies emerge that will trump the dollar.

If the US does bail out Greece then everyone is going to attempt to prop up the dollar, which won't help.

knukles's picture

The swaps did not decrease Greece's foreign currency exposure as Goldman claims, but simply moved the exposure from one pocket to the other.


Ripped Chunk's picture

And the men who saved the world did not want derivatives regulated why again???

Oh right, it would be "disruptive"


Anonymous's picture

Smote Goldman!

Greyzone's picture

Why do you pour gasoline on a PR fire? To bring down your enemies, making it more feasible to sell US debt into this increasingly fictional marketplace. I can see TurboTax Timmy and Ben Shalom both agreeing that Goldman's position and knowledge of other countries being involved in similar stunts being an opportunity to hurt the standing of those nations further.

Yes they need to debase the dollar, but they need to sell that US debt first and foremost. If the US can't lead the way down in the debasement race, it sure can bring up a bulldozer from behind and force everyone down that road a bit faster.

williambanzai7's picture

Goldman needs are real PR specialist like Jigaboo Jones:

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