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To: RJA_ who wrote (72617)	2/25/2010 10:00:28 AM
From: Haim R. Branisteanu	Respond to of 74559

Bernanke probing Goldman's dealings with Greece By Greg Robb GS WASHINGTON (MarketWatch) -- Federal Reserve Board Chairman Ben Bernanke revealed Thursday that the central bank is looking into Goldman Sach's dealings with the Greek government. "We are looking into a number of questions of Goldman Sach's derivative arrangements with Greece," Bernanke said in testimony before the Senate Banking Committee. The European Union has demanded that the Greek government provide details of how it used currency swaps and other instruments. The New York Times reported that Greece in 2001 had borrowed billions, with the aid of Goldman Sachs in a deal hidden from public view because it was treated as a currency trade rather than a loan. Bernanke also said the Fed was looking into trading of credit default swaps that allow financial firms and investors to bet that Greece will default on its debt. Bernanke said this trading was "counter-productive" and under review by the Fed and the Securities and Exchange Commission.