Greek Prime Minister George Papandreou is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis.
U.S. investment banks probably do deserve some blame for selling garbage products to sovereign clients. They also weren't the only banks doing this, so why not sue European banks as well? Maybe Greece doesn't want to antagonize the rest of Europe any more than it has already now that the bailout's terms have been set. BTW, the article also mentions another German economist who doubts Grece's ability to pay up.
I'm certain that Greece will have as much success suing Goldman Sachs et al. as the SEC will have in pursuing fraud charges; that is, zero success. Bankers own governments now. Greece got the memo but used it to wrap a gyro instead of reading it.
