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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

Saturday, May 2, 2009

Former Barney Frank Aide Joins Goldman Sachs

Editor's Note: Bet lobbyists aren't subject to salary caps!

Lobbyist Paese Moves to Goldman Sachs
by Peter Stone National Journal's Under the influence
As lobbyists move around the financial services sector almost as fast as some Wall Street giants take billions of dollars in federal aid, it gets hard to keep track of "who's on first," or leading different lobbying shops.

Take the impending move of Democratic lobbyist Michael Paese -- a former top aide to Rep. Barney Frank, chair of the House Financial Services Committee -- to Goldman Sachs from the Securities Industry and Financial Markets Association. Paese, who just joined SIFMA as its top lobbyist last September, will become Goldman's No. 2 lobbyist (not No. 1, as some outlets have reported) where he'll be replacing Republican Ann Costello, who's moving on to become the top lobbyist for the Bank of New York Mellon. No word yet on who will be the new lead lobbyist at SIFMA, but sources say that the search is being led by Timothy Ryan, the trade group's chief executive officer.


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