US Probes Wall Street's Role in Greece Debt Crisis

Ben Bernanke said the Federal Reserve and the US financial watchdog were "looking into a number of questions" related to banks' derivatives arrangements with Greece. Photo by abc.net

The role of Wall Street firms in deals that may have helped Greece mask its debt woes are under scrutiny in the US, the Federal Reserve chief has said.

Ben Bernanke said the Federal Reserve and the US financial watchdog were "looking into a number of questions" related to banks' derivatives arrangements with Greece, the BBC reported.

Goldman Sachs was the only firm which Bernanke mentioned by name. Earlier this week a Goldman Sachs boss defended the bank's 2001 debt-swap deal with Greece that may have allowed the country to mask the extent of its debt woes.

Gerald Corrigan, chairman of Goldman Sachs Bank USA, the bank's holding company, said it was "consistent" with the regulations of the time.

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