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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

Sunday, July 19, 2009

Goldman Sachs bites Uncle Sam's hand

I've been reading Taibbi's book, "The Great Derangement" lately and it points out in hilarious detail that the oligarchs that have taken over our government love this back-n-forth right vs. left battle going on amongst the masses. People that have trapped themselves into this pointless bickering have deluded themselves. Let's take today's announcement that a vice chairman of Goldman Sachs International has been nominated to a top economic position at the State Department, along with this news-
Goldman Sachs bites Uncle Sam's hand from CNN.

NEW YORK (Fortune) -- I've always thought that the guys running Goldman Sachs were really smart, not only about making money, but also about projecting a classy image to the world outside of Wall Street. Clearly, I overestimated them.

If there was ever a firm with the motivation -- and the money -- to be gracious to the U.S. taxpayers who kept it alive when the financial markets were imploding, it's Goldman. It had a chance to look good and do good for taxpayers and itself and Wall Street for a relative pittance -- and has blown it. Horribly.


What you probably don't know is that Goldman, flush with cash and profits, is squabbling with the Treasury about how much it should pay taxpayers to buy back the stock purchase warrants it gave the government as part of the TARP deal. Talk about tacky.


Good article. Read the rest here.


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