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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

Monday, July 13, 2009

Glenn Greenwald connects Goldman's dots

Editors note: Glenn Greenwald connects Goldman's dots in a way that paints a very ugly picture.


The events preceding Goldman Sachs' new "blowout profits"

Remember all of this -- the $700 billion bank bailout, the AIG scandal, dark and scary threats of imminent global meltdown if there wasn't full-scale capitulation by the citizenry to the immense transfer of public wealth to the private investment banking sector? Such distant, hazy memories: so many exciting celebrity deaths and riveting celebrity resignations ago. If sequences of events like these don't cause mass citizen outrage, then it's hard to imagine what will:

....



Read the full story.
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Posted by RobertM

1 COMMENTS:

IT STANDS TO REASON said...

This is an excellent summary. The ability of Goldman Sachs to amass such power is mind boggling. "Power corrupts and absolute power corrupts absolutely." I sense that Goldman Sachs' power is absolute.

July 14, 2009 at 2:38 AM

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