Editor's Note: I decided to update this post with a piece from Karl Denninger. But I first saw the information below in emails to me, but I could not verify. It looks like Zero Hedge has verified and they have the full interview online.
BlackRock Confirms Goldman Q1 Profit Was Non-Recurring And A Result Of AIG Unwinds from Zero Hedge
Peter Fisher, managing director of BlackRock (yes, that BlackRock), states in a Bloomberg interview that Goldman's first quarter trading profit is non-recurring in nature, and believes it was mostly due to AIG unwinds.
Additional comments and link to interview - http://zerohedge.blogspot.com/2009/04/blackrock-confirms-goldman-q1-profit.html
Editor's Note: Here's where it also gets interesting. Read this closing piece in Karl's post and then click on his link to read his full analysis.
IT APPEARS GOLDMAN GOT PAID TWICE FOR THE SAME RISK AND THE SECOND PAYMENT CAME STRAIGHT OUT OF THE TAXPAYER'S HIDE.
If so, that transfer payment was improper as Goldman had already collected on the bet and thus must be clawed back. - Emphasis in original!
Read full article: Click Here
GoldmanSachs666 Message Board
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". 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