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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

Thursday, October 29, 2009

Goldman Sachs & the AIG Contracts

Ratigan, Spitzer and Greenwald speak truth to power and about how Goldman Sachs made out like bandits. Anybody in the Obama administration listening?


Anonymous said...

Ratigan Discusses The Conflict Between Geithner And Bair On How To Resolve Bank Bailouts And Who Should Pay

Among Dylan's musings on the sham regulatory overhaul proposal, and the behind the scenes political bickering, is this question "Why is it legal for the US banking system to take infinite risk in a financial gambling parlor in secret and use taxpayer assets." ... who-should

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