G'day - This is the first time I see Greek government accused of fraud. Incompetence, perhaps, but fraud? Using currency swaps may be a way of restructuring debt; it's not without risks but those guys seemed desperate, unable to stop out of control government spending. I have read the article you're referring to with interest. As for telling clients one thing and doing different thing at the same time - that's easily explainable. Financial institutions have strict segregation of functions, going very deep: if advisors (who knew about Heinz deal) called brokers (who make the recommendation) - that would be fraud. Not alleged fraud a-la Greek government, but real violation of criminal code. The rest of the article appeals to emotions rather than reason, somehow invoking Madoff in Goldman context. Elsewhere same article suggests public hanging and promotes investments with 100%+ return, which completes the picture quite nicely. Regards Slav -----Original Message----- From: luv-talk-bounces@lists.luv.asn.au [mailto:luv-talk-bounces@lists.luv.asn.au] On Behalf Of Lev Lafayette "Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit." They aided and abetted fraud. As for telling their clients one thing and doing another themselves? Setting up and selling a mortgage investment designed to fail? And more? http://www.wealthdaily.com/articles/how-corrupt-is-goldman-sachs/3994 "This e-mail and any attachments to it (the "Communication") is, unless otherwise stated, confidential, may contain copyright material and is for the use only of the intended recipient. If you receive the Communication in error, please notify the sender immediately by return e-mail, delete the Communication and the return e-mail, and do not read, copy, retransmit or otherwise deal with it. Any views expressed in the Communication are those of the individual sender only, unless expressly stated to be those of Australia and New Zealand Banking Group Limited ABN 11 005 357 522, or any of its related entities including ANZ Bank New Zealand Limited (together "ANZ"). ANZ does not accept liability in connection with the integrity of or errors in the Communication, computer virus, data corruption, interference or delay arising from or in respect of the Communication."