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View Diary: Elites Are Attempting a Controlled Demolition of the Old Social and Economic Order (285 comments)

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  •  lotlizard, here are some excerpts (8+ / 0-)

    from an article in Le Monde i posted in swellsmans' diary this morning.( apologies to those who have already seen this.)

    Bid for global dominance
    Now that it has a former director at the head of the ECB, a former intermediary leading the Italian government, and another in charge in Greece, the bank’s antagonists are eager to highlight the extraordinary power of its network in in Frankfurt, Rome and Athens, which could prove extremely useful in these turbulent times.

    here are some brief descriptions of their ties to Goldman Sachs.
    Heavyweight members figure large in the euro crisis
    Draghi was Goldman Sachs International’s vice-chairman for Europe between 2002 and 2005, a position that put him in charge of the the “companies and sovereign” department, which shortly before his arrival, helped Greece to disguise the real nature of its books with a swap on its sovereign debt.
    Monti was an international adviser to Goldman Sachs from 2005 until his nomination to lead the Italian government. According to the bank, his mission was to provide advice "on European business and major public policy initiatives worldwide". As such, he was a "door opener" with a brief to defend Goldman’s interest in the corridors of power in Europe.

    The third man, Lucas Papademos, was the governor of the Greek central bank from 1994 to 2002. In this capacity, he played a role that has yet to be elucidated in the operation to mask debt on his country’s books, perpetrated with assistance from Goldman Sachs. And perhaps more importantly, the current chairman of Greece’s Public Debt Management Agency, Petros Christodoulos, also worked as a trader for the bank in London.

    Two other heavyweight members of Goldman’s European network have also figured large in the euro crisis: Otmar Issing, a former member of the Bundesbank board of directors and a one-time chief economist of the European Central Bank, and Ireland’s Peter Sutherland, an administrator for Goldman Sachs International, who played a behind the scenes role in the Irish bailout.

    here's the article. it's a good read.
    http://www.presseurop.eu/....

    Shame is the New Black.

    by dear occupant on Sun Nov 27, 2011 at 12:21:49 PM PST

    [ Parent ]

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