GS arranged the "loan" and the "special mechanisms" that disguised that fact. GS created the CDSs around that debt and then sold those CDSs to (other?) Greek Banks. Now GS is behind all of the clamor about Greek debt problems. I am unclear if the "loan" was actually a bond sale or what and don't have time to go back and check. I am wondering how GS will profit from this. One way might be to have sold short some of the CDSs. Then if the value of the CDS drops due to clamor and concern, they can buy the CDS for well less than the value of the CDS they owe who ever they borrowed it from. They could also be shorting bonds I suppose. Can someone who has insider knowledge clarify?

"It is not necessary to have hope in order to persevere."