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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

Wednesday, May 13, 2009

Goldman's tangled web of greed

Editors note: Just another disgusting example of greed run amok. Nothing to see here. Move along. These are not the droids you are looking for.
Meg Whitman Week - Wednesday: A Tawdry Episode
by Chris Kelly, HuffPost

.....

Meg Whitman isn't the richest woman in California. She's only the fourth richest. In fact, she's barely the 897th richest person in the universe. And voters get that. That's what gives her that common touch you just wouldn't get from Queen Beatrix of the Netherlands.

And Meg Whitman earned her money herself. All $1.4 billion of it. It came from perseverance, patience and long hard honest work. Except for the $1.78 million from Goldman Sachs. Which she stole.

...

Meg Whitman was the CEO of EBay. EBay's investment bankers were Goldman Sachs. EBay didn't have to hire Goldman Sachs to be their investment bankers, because this was a few years ago, when there were lots of banks, and not just the three we keep bailing out. Goldman Sachs was very grateful for EBay's business and they had a special way of showing their gratitude to EBay's executives. Goldman Sachs would let them buy shares in other companies whose initial public offerings they were underwriting.



Read the full story- Click here

Editors note: This is the mindset of Wall Street. They don't see anything wrong with what they're doing! It's a place filled with exceptionalism. This is why I laugh when I hear some bobblehead on the teevee talking about justice or that we're a "nation of laws". As Spitzer said on Rachel Maddow's show last night, we have plenty of laws already....it's just that nobody is enforcing them.

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Posted by RobertM

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