Ben Bernanke is looking into Goldman's Greek shenanigans, which may or may not have been strictly kosher- depending on if you pray at the House of LB or the house of Taibbi. The deals were brokered in 2001, so yeah, nine years seem about a reasonable amount of time for the Fed to start worrying. Bernanke, testifying this morning before the Senate Banking Committee, said that the ever-so-quick-to-take kids over at the SEC don't want to miss on the action either. They're "interested in the issue."
Mr. Bernanke said credit default swaps can be useful in hedging, but added, "obviously using these instruments in a way that intentionally destabilizes a company or country is counterproductive."