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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

Tuesday, April 28, 2009

Something Smells Fishy at Goldman Sachs

Editor's Note: It's too bad the rest of main stream media is so scared and/or bought by Goldman Sachs. But not The New York Post. They tell it like they see it. Now if we could only get some serious attention from the regulators.

by John Crudele in The New York Post

SOMETHING smells fishy in the market. And the aroma seems to be coming from Goldman Sachs.

. . .

But can you trust what the stock market is now doing any more than the rally last summer that ended badly or the one last December that ended horribly? The optimists on Wall Street will tell you that stock prices always rally ahead of an improving economy.

. . .

According to an outfit in Sausalito, Calif. called TrimTabs, the flow of money from regular investors (that's you and me) into the stock market has been rather moderate considering the 7-week market run.

. . .

So, who's moving the market? Professional traders, with Goldman Sachs
leading the way . . .

Read the full article - Click Here


yesemkay said...

From my blog posting dt 14 Oct 2008

Consider this.

Paulson as chief of Goldman Sachs pushed Congress to liberalise rules for Investment Banks so they can take on higher leverage to speculate and make more money betting on worthless loans and paper securities. His firm sold these to other Banks, etc. Then he becomes Treasury Secretay and sees the mess explode the financial markets. He allows Bear Stearns and Merryl Lynch to be taken over by bigger banks, lets Leehman collapse thus killing the opposition and that leaves Goldman Sachs and Morgan Stanley standing. They turn themselves into Banks. Meanwhile Paulson drums up the Bailout Plan of $700 billion to buy the toxic mortgages and another $250 billion to recapitalise Banks. Guess who benefits, his old firm Goldman Sachs. The Bailout is going to be administered by his ex-aide at Sachs, Neel Kashkari who is now the Bailout Czar. Shows how one of the Villains of the Crisis has morphed into the Hero of the Bailout.

God save USA.

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