Greece's fiscal woes, the exposure of the European financial system to them, and the role played by Wall Street in hiding the problems all converge in a fifth-floor office near London's Liverpool Street station where a company called Titlos PLC was created in early 2009.
Just 22 days after Titlos was born, the National Bank of Greece SA and Goldman Sachs Group Inc. arranged for the company to sell E5.1 billion, or about $6.96 billion, in notes, according to U.K. and U.S. documents.
But Titlos wasn't a real company and the notes weren't designed for ordinary investors. Titlos doesn't make anything and its only directors are two British executives who work for a firm that specializes in the formation of corporations and the sale of pooled assets. Continue here...
0 comments:
Post a Comment