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    Back to To the Point

    To the Point

    Greece: A Country that's Too Big to Fail

    According to one official at the International Monetary fund, " if a government wants to cheat, it can cheat ." So it was "perfectly legal" in 2001 for Goldman Sachs and other bankers on Wall Street to help Greece borrow beyond its means. Now, these same banks stand to profit from the crisis they helped create.

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    By Warren Olney • May 12, 2014 • 1 min read

    According to one official at the International Monetary fund, "if a government wants to cheat, it can cheat." So it was "perfectly legal" in 2001 for Goldman Sachs and other bankers on Wall Street to help Greece borrow beyond its means. Now, these same banks stand to profit from the crisis they helped create. Germany, France and other countries are less than eager to bail out a fellow EU member, and that could mean trouble for Italy, Spain and Portugal, too. Now hedge funds are betting that Greece won't be able to pay its debts and that means the Euro could be in trouble. Is Greece a victim of financial predators? Should the Greek people suffer cuts in salaries, pensions and benefits? What does it all mean for the dollar?

    The full episode

    2 of 3
    Greece: A Country that's Too Big to Fail
    1. 0:00Aftermath of Magnitude-8.8 Earthquake in Chile
    2. 7:48Greece: A Country that's Too Big to FailYou’re reading this
    3. 42:55Pelosi Confident on Votes to Pass Healthcare Reform
    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Warren Olney

      former KCRW broadcaster

    • KCRW placeholder

      Katie Cooper

      Producer, 'One year Later'

    • KCRW placeholder

      Karen Radziner

      Managing Producer, To the Point & Which Way LA?

    • KCRW placeholder

      Andrea Brody

      Senior Producer, KCRW's Life Examined and To the Point podcast

    • KCRW placeholder

      Nelson Schwartz

      New York Times

    • KCRW placeholder

      Nick Malkoutzis

      Macropolis

    • KCRW placeholder

      Marshall Auerback

      Market Analyst, RAB Capital

      NewsNationalPolitics

    The full episode

    2 of 3
    Greece: A Country that's Too Big to Fail
    1. 0:00Aftermath of Magnitude-8.8 Earthquake in Chile
    2. 7:48Greece: A Country that's Too Big to FailYou’re reading this
    3. 42:55Pelosi Confident on Votes to Pass Healthcare Reform
    Back to To the Point