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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

Monday, July 20, 2009

Goldman Sachs' Twilight Zone

Is it simply strange coincidence that Goldman Sachs chose to publish a global economics report called "The Twilight Zone Between Boom and Bust" around the same time it is finding itself under fire after accusations that it has (say it with me now, kids, we all know the line by now) "engineered every major market manipulation since the Great Depression"? That doesn't make sense.

But hey, if anyone is qualified to write about the Twilight Zone Between Boom and Bust, I suppose it would be GS.

Goldman Sachs wrote a treasure map to the Twilight Zone of Booms and Busts because they would know (via Newsweek and yay with the MSM coverage on all of this):

How can we predict the next bubble? That’s the $64,000 question, and while nobody has an answer, Goldman Sachs made some interesting observations in a research paper they put out this week entitled “The Twilight Zone.” This is what the bank is calling the most sensitive period in the economic cycle, the one that comes right between a boom and a bust.

Previously, economic cycles were basically thought to have just two parts─theoretical models that the rocket scientists in major banks use to try and forecast the future generally have a “boom” line and a “bust” line. But the Goldman paper posits another period─the Twilight Zone period─which generally lasts between a few months to a year. It’s during this tipping-point period that investors can find clues to the next bust.

Read the rest here


Anonymous said...

Let me tell you I was depressed when I learned even Hillary's soon to be son-in-law works at GS...jesus, they are everywhere.

Jr Deputy Accountant said...

that's right, Anon. Don't open your closet, you might find a GS alum hiding in there.....

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