Thursday, February 25, 2010
Fed Reviewing Goldman’s Moves on Greek Debt
This article could possibly be a example of a market failure because of the capture of regulators and bribery. It talks about how the Federal Reserve is examining the policies of big banks such as Goldman Sachs that might have helped Greece mask its debt lately.
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I think this is a very interesting case of market failure because this is probably one of the first few times that the failure of an economy is being attributed to nepotism and corruption. The involvement of the large financial institutions further criticizes and questions the integrity of the financial system.
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