Binge then bust

Politicians have recently expressed alarm at a cross-currency swap conducted between Greece and Goldman Sachs in 2001, which allowed the sovereign to reduce the debt it reported in its public accounts. But other examples now coming to light show the…

Unrealised gains out of their hands

Some regulators have suggested profits based on uncertain valuations of complex products should not be allowed to flow into earnings and be distributed in the form of dividends and bonuses – a move that potentially has massive implications for the…

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