Goldman In Hot Seat Over Greek Swaps

Law360, New York (February 25, 2010, 6:23 PM EST) -- European and U.S. authorities are turning up the heat on Goldman Sachs Group Inc. for its role in arranging controversial swaps allegedly used to disguise Greece’s debt, creating a public relations nightmare for the investment bank and sparking a regulatory backlash, observers say.

Federal Reserve Chairman Ben S. Bernanke told members of the U.S. Senate Banking, Housing and Urban Affairs Committee on Thursday that the Fed is looking into derivatives arrangements with Greece arranged by Goldman and other investment firms, according to the Associated Press....
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