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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

Wednesday, October 28, 2009

Goldman Sachs keeps investors in the dark

Mushrooms grow in the dark and feed on shite, much like what Goldman does to their investors and the public in general.


.....Goldman pooh-poohs the notion that complete transparency in markets creates accurate prices.

Instead, the bank argues that an over-the-counter market in which big traders like Goldman get to do deals in the shadows in “dark pools” without the retail investor having any knowledge of what the hell is going on is somehow better for everybody, that this somehow produces better prices. Of course the reality is that the two-tiered system creates one pool of fools whose every movement is visible to every animal on the Serengeti, and another pool of giant bloodthirsty carnivores who get to walk around invisible, picking off the dik-diks one by one.

Everyone I showed this to had the same reaction — “I can’t believe they said this out loud.”


Read the rest- Click here


Anonymous said...

Busting Out The Joint

"Just like in GoodFellas, the gangsters have busted out the joint, and
now there’s nothing left of what used to be a fine establishment.

I remember quite clearly walking home in 1990 after seeing
“GoodFellas” and wondering why such obviously clever people as the
gangsters portrayed in the movie would resort to crime to get ahead.
Why not just apply that cunning to legitimate work, and make a
legitimate living—even a legitimate profit.

Now I know where all the gangsters went: They went to Wall Street. ... -out-joint

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