Goldman's great Greek swindle and the American blowback

Source AlterNet

You've heard this crappy joke before. Financial vampire squid Goldman Sachs games billions on the books for a prestigious client, hiding its lack of real value, while both continue to lucratively trade on false data. Time passes, Goldman retracts its feeding tube, the prestigious client implodes, and the collateral damage escalates. Cue the cruel laugh track. The client this time? Greece, where Goldman executed a currency swap worth billions, without reporting it of course. The collateral damage? The euro, and perhaps the entire European Union, depending on how the house of cards falls. But to be fair, Goldman couldn't have done it alone. What happens when you, unlike the United States and its money-makers at the Federal Reserve, can't simply print your way out of an economic meltdown to bring those numbers in line? In Greece, you get street riots, austerity measures, bank runs, runaway nationalism, crippling sanctions and what passes for a serfdom ruled by an oligarchy