Opinion – How Goldman Sachs Profited From the Greek Debt Crisis | The Nation – John Gelmini

The Greek Government and its advisors chose to submit bogus figures prior to attempting to enter the Euro. They used Goldman Sachs to massage those figures and create the business case for Euro entry.

Greece is, as Dr Alf says, a “special case” in that both its Government and Goldman Sachs perpetrated highly unorthodox practices to gain Euro entry.

However, the matter does not end there because the other EU Governments did not perform relevant “due diligence” and thus permitted this to occur. They knew, or should have known, what was going on but instead of putting a stop to it they encouraged what was happening, reasoning that EU taxpayers would foot the bill if things went wrong, such is the contempt these taxpayers are held in by those in power.

Goldman Sachs meanwhile argues that they were operating within the rules prevalent at the time.

John Gelmini

Commentary: Biased reports on AIIB betray entrenched prejudice against China – Xinhua | English.news.cn

National emblem of the People's Republic of China

National emblem of the People’s Republic of China (Photo credit: Wikipedia)

This is a must-read article from the ChinaXinhua news agency. Check it out!

via Commentary: Biased reports on AIIB betray entrenched prejudice against China – Xinhua | English.news.cn.

Unlike the Western mainstream media, which is quite happy to ‘name and shame’ in the interests promoting readership, China’s media is more discrete. The above article does not cite western newspapers with views biased against China. So I decided to research the Western media bias for myself. See separate blogs today.

Personally, I think that this article is right – there’s a bias in the Western media supporting particular political and business interests.