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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

Friday, September 18, 2009

Goldman Sachs and misplaced rage

This piece by Glenn Greenwald at Salon points out how many have misplaced their rage, directing it at groups with no real influence instead of directing it at companies like Goldman Sachs who DO have tremendous influence and power and are using it to plunder our country.


Exactly as one would expect, the prime beneficiaries of all of that pillaging continue to grow. The banks that almost brought the world economy to collapse but then received massive public largesse because they were "too big to fail" are now bigger than ever; as The Washington Post delicately put it: "The crisis may be turning out very well for many of the behemoths that dominate U.S. finance." Everything involving the government turns out well for these "behemoths" because they own and control the U.S. Government. Just this week, The Post detailed how the government and Wall St. are now so intertwined that banking executives are spending vast resources to increase their presence in Washington:


As previously documented, Goldman Sachs itself has a virtual lock on the top Treasury positions no matter which party is in power. The vaunted bipartisan "Baucus plan" was literally written by a Baucus aide who just left her position as Vice President of Wellpoint to write the health care reform plan for the Senate -- a revelation which barely caused a ripple. And the Supreme Court is on the verge of striking down the few limits on corporate involvement in our politics, a ruling which may (or may not be) constitutionally defensible but which will flood American politics with so much corporate money that it will give new meaning to the term "oligarchy."

So with this massive pillaging of America's economic security and the control of American government by its richest and most powerful factions growing by the day, to whom is America's intense economic anxiety being directed?


Read the full story. Click here.


W.C. Varones said...

Is that the Glenn Greenwald, the sock puppet guy?

Jay Randall said...

lolz check it out, I finally put up that video game where you get to shoot up a corporate board room:

Just pretend it's Goldman Sachs... MUAHAHAHA!!!!

Marvin said...

That deal with the SC striking down any controls at all on corporate power really scares the hell out of me. I think "how much worse could it be?" Well... maybe we'll find out.

Anonymous said...

“Yet with recent scrutiny of latent Goldman interests in virtually every segment of the executive branch, Zero Hedge does find it oddly convenient, that in those dark (for Goldman Sachs) days, the two key people making capital markets related decisions were yet another two Goldman Sachs alumni: Hank Paulson and Eric Mindich. And we believe in the spirit of fake transparency so heavily endorsed by the President, it is worth at least attempting to get some additional information on the deliberations by the proxy entities that truly run this country’s economy and capital markets. ”

What Is Goldman Alum Eric Mindich’s Role As Chair Of The Asset Managers’ Committee Of The President’s Working Group?

Anonymous said...

While I can see the outrage and enthusiastically support the media going after Goldman Sachs as Glenn Bech and Bill O'Reilly of the Fox News Network have done many times, I don't see why Salon would be upset over these same folk taking aim at Acorn. Sure, the crimes at GS need to be identified and the company needs to be prosecuted and reigned in but does that mean we ignore every other criminal organization until GS is brought to justice?

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