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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

Tuesday, September 29, 2009

Goldman Sachs In The News...On Video

This link has over 60 video clips posted on YouTube all related to Goldman Sachs.  Many very  .interesting and informative.  

The Main video titled Glodman Sucks" Sachs - Fascism at its finest! features Matt Taibbi, reporter and contributing editor for Rolling Stone.  He has investigated, reported on and exposed much on Goldman Sachs.  Amy Goodman with "Democracy Now" interviews Matt Taibbi and he has some very good and angering comments.  

Taibbi says;
"They  can get what they want when they want from Government."
"If AIG was allowed to go bankrupt Goldman might actually have gone out of   business"

"It was Goldman Sachs bailing out Goldman Sachs in the middle of the bailout"
(LR comment:  Does this mean that Hank Paulson, who orchestrated all of this violated some ethics or even worse was involved in a conspiracy which utlmately cost the American people?  If so, should he not be investigated and charged with some crime or crimes?)

"During the same week (as the AIG bailout) Hank Paulson elected not to rescue Lehman    Bros....they went from almost certain disaster to seeing their primary competitor leave the market."
(LR comment:  Here again, not rescuing Lehman Bros., Goldman's "primary" competitor, a decision made by former Goldman Chairman, Secretary of the Treasury Paulson, not some type of conspiracy?  Come on now.  JP Morgan was paid by The Fed to save Bear Stearns, Bank of America was forced to buy Merrill Lynch but no effort what so ever was made to do anything about Lehman.  I can't believe the stockholders of Lehman, the true owners of the company have not taken action.) 

There is so much more in this interview like Goldman Sachs in 2008 paid a total of $14 million dollars in taxes.  Taibbi says this amount is about one third of what CEO Blankstein made in compensation that year.  The reason for this he says is that Goldman moved most all their revenues to foreign countries with lower taxes.  All this while they were receiving billions of dollars of little people's tax dollars, paid themselves handsomely with no care or consideration to the hardships those "working" people were enduring whose money they took.

If anyone thinks Bernard Madoff was bad, he looks like a small time street pusher compared to the Goldman Gang.

The videos compiled on this link are worth viewing and saving.  It may even warrant a separage page on this site.

To View All here


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