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Fraud*
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

Friday, May 15, 2009

Goldman Alum Dudley's New Gig at the Bank of International Settlements

Blah, blah, blah, NY Fed, BIS, William "Goldman Sachs put a f&^*ing GPS tag under my skin" Dudley, and more financial incest than anyone can possibly handle. Is this a party I wasn't invited to? Is there anyone who isn't connected to $GS qualified enough to take a position like this? No?

WSJ on NY Fedhead Dudley's sweeeeet new gig:

The Bank for International Settlements said Monday William Dudley has been appointed chairman of its Committee on Payment and Settlement Systems, which was set up in 1990 to safeguard the world’s financial plumbing.

Dudley, who became President of the Federal Reserve Bank of New York in January, takes the place of Timothy Geithner who joined U.S. President Barack Obama’s administration as Treasury Secretary.

Is this important somehow? Yeah, sure, more Goldman/NY Fed incest except this time we throw in the BIS just to make sure it's 100% financial clusterf&^* instead of just 95% or so (I'm no mathlete nor statistician so excuse me if that percentage is +/- wtf). So what?

Read the full article - click here
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Posted by Jr Deputy Accountant

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