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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, August 19, 2009

Another Goldman Sachs Manipulation

Goldman Sachs May Lower Bonuses

  By John Carney|Aug. 18, 2009, 3:24 PM of The Business Insider.

The article ends with:
             "One question: how will the Goldman haters spin this against the firm?"

The answer is given in the piece itself.
This won’t necessarily translate into broke bankers. Pali also expects Goldman’s revenues will jump as merger activity rebounds (something that happens at the end of every recession) and the IPO market revives. So the guys and gals at Goldman will be getting a smaller slice of a bigger pie.  What’s more, most Goldman employees hold Goldman stock, so if the stock price rises on news that the percent of revenues going to shareholders is increasing, the Goldman employees also benefit.
Read the full article...click here
Also, please read the comments to Mr. Carney's article.

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Posted by Larry Rubinoff

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