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
The Wall Street name that pops up most frequently on Mr. Geithner's calendar is that of Goldman's Mr. Blankfein, whose bank repaid $10 billion in bailout funds this summer. (J.P. Morgan has also repaid its bailout funds.) Mr. Blankfein's name appears 22 times on the calendar, including two in-person meetings and, on May 1, three phone calls. That was around the time the government was preparing to announce results of its so-called stress tests of banks' financial strength. The two men know each other from Mr. Geithner's days as president of the Federal Reserve Bank of New York. A spokesman for Goldman Sachs didn't return a call for comment. A spokesman for J.P. Morgan declined to comment.
October 9, 2009 Just over a year after economic calamity brought promises of reform from Washington, has Wall Street really changed? Former International Monetary Fund chief economist Simon Johnson and US Rep. Marcy Kaptur (D-OH) report on the state of the economy.
“And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that. All power corrupts; absolute power corrupts absolutely.” Lord Acton
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October 9, 2009
Just over a year after economic calamity brought promises of reform from Washington, has Wall Street really changed? Former International Monetary Fund chief economist Simon Johnson and US Rep. Marcy Kaptur (D-OH) report on the state of the economy.
http://www.pbs.org/moyers/journal/10092009/watch.html
“And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that. All power corrupts; absolute power corrupts absolutely.” Lord Acton
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