CNBC Poopoo's Greek Protests

SUBHEAD: Reporters banter as Greek struggle with debt and falling quality of life turns violent. Image above: Still from CNBC video clip below. By Mark Haines & Erin Burnetton 25 February 2010 on CNBC - (http://www.cnbc.com//id/15840232?video=1423612707&play=1) Greece was gripped by widespread and violent protests Wednesday as thousands stayed away from work and marched through Athens against planned government spending cuts. .

1 comment :

Brad Parsons said...

They don't know when to stop:

"Fed to Examine If Wall Street Is Betting On Default by Greece"
By: CNBC.com with Reuters and AP on 25 Feb 2010

"The Federal Reserve will look into a report that several Wall Street firms, including Goldman Sachs, have been betting on a default by Greece on its sovereign debt, Fed Chairman Ben Bernanke told the Senate Banking Committee on Thursday.

"We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece,'' Bernanke said in response to a question for Senate banking Committee Chairman Chris Dodd.

Bernanke said the Securities and Exchange Commission was also "interested'' in the issue.

"Obviously, using these instruments in a way that potentially destabilizes a company or a country is counterproductive," Bernanke said. "We'll certainly be evaluating what we learn from the activities of the holding companies that we supervise here in the U.S."

Bernanke was reacting to a report in the New York Times that Goldman Sachs and other Wall Street firms were buying credit-default swaps in which they would profit if Greece reneged on its debt..."

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