Goldman Sachs (NYSE:GS) Greece Credit Default Swaps

Goldman Sachs Greece Credit Default Swaps

The pathetic chairman of the Federal Reserve, Ben Bernanke, blathered on recently on how the Securities and Exchange Commission will be checking into Goldman Sachs (NYSE:GS) and their practices concerning using legal credit default swaps as a best against Greece defaulting on their debt.

Credit default swaps are a type of insurance used against bond defaults. They are tools to use as hedges in other words.

But for Bernanke, who should be the one being interrogated for his role in the collapse of the U.S. economy through easy and cheap credit, along with his response of printing an endless amount of money which is continuing to destroy the value of the U.S. dollar.

Anyway, to now to play god again from his perch at the helm of the Federal Reserve, evidently feeling aggressive from his installment for a second term as Chairman of the Federal Reserve, Bernanke is making it look like Goldman Sachs is doing something wrong by betting against Greece. This is something done all the time by individual and institutional investors, in a number of catergories, currencies and countries.

To make this look unusual shows the disingenuousness of Bernanke and the U.S. government which continues to attempt to distract the American public by stunts and assertions like this which takes the focus off of their outrageous behavior with bailouts using taxpayers' money.

Goldman Sachs Greece Credit Default Swaps