Quote:
Originally Posted by nomadking
Lot of ifs in there. Apparently other banks have done the same for other countries, eg Italy. Greece and Italy wanted a way of hiding their true levels of debt and that is what they got. It was just exploiting an accounting rule.
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Well if/when this matter is examined thoroughly by legal experts, the extent to which GS did or didn't do anything legally wrong will be determined. It's the same with the supposedly legal tax avoidance schemes which have been promoted heavily to companies/wealthy individuals only for courts to determine they were illegal.