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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 9, 2009

Goldman Sachs Has Gained Too Much Political Power

NOTE: This one will blow you away for two reasons, one it is good, and two it was written in 2006 for Bloomberg News. Here are a few excerpts and below a link to the full article.

Forget ``The Da Vinci Code.'' If you want to get to grips with a real conspiracy, take a look at all the Goldman Sachs Group Inc. staffers taking over important economic positions around the world.

The U.S. Treasury, the Bank of Italy and the Bank of England have all recently poached key policy makers from the world's most profitable securities firm.

While no one would dispute that New York-based Goldman Sachs is a money-making machine full of alpha-brains, it isn't healthy for so many decision-makers to be drawn from one source.

. . . (much more in the middle using the link to the full article)

Lastly, there may be the potential for conflicts of interest. For example, policy makers might need to think whether oil speculation has to be brought under control. And Goldman is a participant in that trade. Would a former Goldman manager hammer one of his old firm's most profitable lines of business? And would they form an objective view on whether hedge and buyout funds are amassing too much influence? Maybe not.

Read the Full Article - Click Here


Anonymous said...

And Dillon Read, the previous GS for decades, withered after the S&L crisis and the rise of pro-capital government policies.

TerrorPatriot said...

To fully comprehend the global nature of the elitist control we are witnessing here you must dig deeper. Goldman Sachs and our Central Government are only pawns and overseers of this American Plantation.And it's economic slaves are called Democrats and Republicans.We need a house cleaning revolution not a bunch of silly tea parties.TP.

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