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UPDATE 2-Germany moves to out Greek debt speculators-source
RUSSELS, March 1 (Reuters) - Germany has moved to identify speculators in Greek debt to try to prevent them from profiting from any bailout of the euro zone country's ailing economy, a source with direct knowledge of the matter told Reuters.
The initiative by the country's financial watchdog is part of delicate deliberations in Germany as to whether it should help bail out Greece, which is grappling with mounting debts.
"It would be bad if it were to emerge after a rescue that the money had gone into the pockets of speculators," the source told Reuters.
...
The German investigation involved contact with the New York-based Depository Trust and Clearing Corporation, which records transactions such as the buying and selling of Credit Default Swaps.
"This market is not transparent and it is very hard to see what's going on," said the source. "It is not possible to make it transparent in just a matter of days.
"We cannot find any evidence that Greece is being shorted out of existence," he said. "Equally, you cannot prove the opposite."
http://www.reuters.com/article/idUSLDE6201RX20100301
I'm guessing here nobody from the DTCC worked for GS, so it shouldn't be a problem
RUSSELS, March 1 (Reuters) - Germany has moved to identify speculators in Greek debt to try to prevent them from profiting from any bailout of the euro zone country's ailing economy, a source with direct knowledge of the matter told Reuters.
The initiative by the country's financial watchdog is part of delicate deliberations in Germany as to whether it should help bail out Greece, which is grappling with mounting debts.
"It would be bad if it were to emerge after a rescue that the money had gone into the pockets of speculators," the source told Reuters.
...
The German investigation involved contact with the New York-based Depository Trust and Clearing Corporation, which records transactions such as the buying and selling of Credit Default Swaps.
"This market is not transparent and it is very hard to see what's going on," said the source. "It is not possible to make it transparent in just a matter of days.
"We cannot find any evidence that Greece is being shorted out of existence," he said. "Equally, you cannot prove the opposite."
http://www.reuters.com/article/idUSLDE6201RX20100301