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According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Thursday, April 23, 2009

Cuomo Bumps Up Against the Goldman Sachs Dynamic Duo

Editor's Note: What is interesting about this story is how it involves two of Goldman Sachs TOP former executives . . . Hank Paulson and John Thain.

Here we have Hank Paulson threatening Ken Lewis of Bank of America to keep his yap shut about what was really going on at Merrill Lynch . . . even though this violates about a dozen, state and federal criminal laws. And who was the CEO of Merrill Lynch? Another Goldman Sachs former executive and butt kissin' buddy of Hank Paulson . . . John Thain. The same guy that demanded a $10 million bonus and was remodeling his office to the tune of $1.5 million with our money.

So I wonder out loud. What's Cuomo going to do about it? Obviously, we have the elements of criminal conduct here. Better yet, what's Eric Holder the U.S. Attorney General going to do about it? Answer: Not a damn thing, because this goes to the heart of the good ol' boy system at Goldman Sachs. And because Andrew Cuomo is only concerned about one thing . . . being elected Governor of New York. We all know you can't be Governor of New York if you piss on companies like Goldman Sachs.

Here's the opening of The Wall Street Journal article . . .

Then U.S. Treasury Secretary Henry Paulson threatened to remove Bank of America Corp. Chief Executive Kenneth Lewis and the bank's board of directors if the bank backed out of its merger with Merrill Lynch & Co. last year, New York Attorney General Andrew Cuomo said. In a letter to members of Congress on Thursday, Mr. Cuomo said his investigation into the Charlotte-based bank's merger has found that Mr. Paulson told Mr. Lewis on Dec. 21, 2008, that the government "could or would" replace the bank's management and its directors if the bank exited the deal.

Read the full article - Click Here


Matthew Saroff said...

I disagree. Film of someone doing a perp walk to arraignment made Rudy Guiliani's political career, and Andrew Cuomo is aware of this.

Anonymous said...

Matthew - someone, but not GS - it will be a fake someone they want out of the way - like Lehman and BSC - the biggest beneficiaries of those BKs were GS, MS and to a degree, Citi - now GS is getting Citi's SmithBarney

Regardless Cuomo wont - he is in the crime club pretty deep...

and another plum contract goes to GS and friends:

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