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From: The Washington Times | February 26, 2010
BANKING Fed investigates Greece default swaps Federal Reserve Chairman Ben S. Bernanke told lawmakers Thursday that the central bank is examining arrangements that Goldman Sachs and other Wall Street firms have with Greece involving high-risk financial instruments. Mr. Bernanke said the Fed is looking into companies' use of credit default swaps, a form of insurance against bond defaults. Mr. Bernanke made the comments at the start of a Senate Banking, Housing and Urban Affairs Committee hearing. It marked the second day that the Fed chief testified on Capitol Hill about the state of the economy. "Obviously, using these instruments in ...
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