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Goldman Sachs (GS) Faces Probe


Wall Street giant Goldman Sachs (NYSE: GS) is facing a probe from the Federal Reserve for its role in arranging complex derivate transactions for Greece, which allowed the nation to hide its debt, according to a report by the Financial Times.

Ben Bernanke, the Federal Reserve Chairman said that, the Fed was looking into a number of questions involving Goldman Sachs, and other companies, and their role in arranging derivatives, which allowed Greece to hide its true fiscal position.

Goldman Sachs has been under the hammer from regulators in Europe after revelations that it helped Greece in hiding its true fiscal position by arranging complex currency transactions after Greece joined the monetary union in 2009.


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Posted-In: Ben BernankeNews Markets