Thursday, 25 February 2010

Soothing words for those rioting in Athens?

WASHINGTON (Reuters) - The Federal Reserve is examining the role that Wall Street firms including Goldman Sachs (GS.N) played in helping Greece arrange credit default swaps, Fed Chairman Ben Bernanke said on Thursday.

"We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece," Bernanke said in response to a question for Senate banking Committee Chairman Chris Dodd.

Bernanke said the Securities and Exchange Commission was also "interested" in the issue and added: "Obviously, using these instruments in a way that potentially destabilizes a company or a country is counterproductive."

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