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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 16, 2009 Announces Director of Communications - Dr. Tom Borelli

I’m pleased to announce that Dr. Tom Borelli has joined our communications team for the project. Tom will serve as Director of Communications, leading a team to present our issues through interviews and presentations. We will be announcing additional Team Members in the next few days. We now have three active Teams of volunteers working on a variety of critical issues, and we will be rolling out a new website very soon.

Tom is uniquely qualified to communicate the issues surrounding Goldman Sachs. As a portfolio manager for the Free Enterprise Action Fund – a shareholder activist mutual fund – Tom has a history of challenging CEOs including former Goldman Sachs CEO Hank Paulson.

At the 2006 Goldman Sachs shareholder meeting, Tom accused Paulson of a conflict of interest stemming from the company’s donation of a huge tract of land to a non-profit where Paulson’s son served as an advisor. Subsequently, Tom’s organization filed a complaint with the Securities and Exchange Commission and submitted testimony opposing Paulson’s nomination for Treasury Secretary.

More recently, Tom received notoriety when Walt Disney CEO Bob Iger launched the F-Bomb at him following his presentation of a shareholder proposal at the company’s annual meeting. As a frequent critic of General Electric, Tom has been interviewed on numerous TV and radio programs discussing the failed leadership of CEO Jeff Immelt.

The Free Enterprise Action Fund has shareholder proposals in numerous proxy statements this year including, Citi, ConocoPhillips, Caterpillar, Exelon, and JPMorgan Chase.

Tom is also a Senior Fellow at the National Center for Public Policy Research where he is the co-director of the Free Enterprise Project. In this role, Tom writes commentaries on the consequences of CEO decisions on public policy. He also manages the website and is a guest columnist with, The D.C. Examiner and a frequent panelist on Fox News’ Strategy Room.

Previously, Tom worked in the corporate world for over 25 years where he obtained firsthand experience with the inner workings of corporations and the myriad of influences on CEO decisions.

Finally, Tom has extensive experience in government affairs. He served as Science Fellow for the U.S. House of Representatives' Committee on Science, Space and Technology during the 100th Congress and he testified on the harmful effects of global warming regulations on our economy and liberty before a Senate Committee.

We are thrilled to have someone of Tom’s caliber on our communications team. Watch for additional announcements and our new website.

CONTACT INFO for Media Requests:

Tom Borelli, Ph.D
Phone: (914) 793-6827


Frank Hope said...

Hi Mike. I hope that now that you have found other people to join you in your fight against Goldman Sachs, that you will also be able to expand on the original issue and confront some of the other financial oligarchs as well. I'm thinking of the executives of JP Morgan, Citibank and Morgan Stanley for example.

In addition there is a practice on Wall St. called "naked short selling" which many people in the financial community claim was instrumental in the sudden collapse of both Bear Stearns and Lehman Brothers. This involves some of the big hedge funds. These funds should not be allowed to operate in secrecy while they destabilize the financial system.

DaveinHackensack said...

Just found out about this site from the item in today's FT. You may be interested in this post I wrote recently on Goldman Sachs, and its political influence: "David Weidner Brings the Crazy". The title is explained in the post.

fugeguy said...

Keep up the good work.

Goldman Sachs Backlash Is Picking Up Steam


Anonymous said...

Mike, why are you focused on Goldman Sachs? JP Morgan was the reason for Bear Stearns, Lehman Brothers, WaMu and Merrill Lynch.

These deals were structured, with the Fed and the FDIC's aid and abetting, to save JP Morgan, which had the biggest share of derivatives liability, more than $90 TRILLION.

Are you trying to point the finger at the wrong bank?

Anonymous said...

keep up the good work on gs, the truth about them needs to be told, people are finally seeing how goldman got so golden, they are losing respect

Cheap Viagra said...

I think stuff related to the announcement that Dr. Tom Borelli has joined the communications team for the project is very cool. So I guess it might allow them to improve, I hope it is used to help people in need.
By the way, this is a kind of interesting issue

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