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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 21, 2009

Goldman Sachs: Pay Inequality Good !

File this under WTF?

Goldman Sachs’s Griffiths Says Inequality Helps All

A Goldman Sachs International adviser defended compensation in the finance industry as his company plans a near-record year for pay, saying the spending will help boost the economy.

“We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all,” Brian Griffiths, who was a special adviser to former British Prime Minister Margaret Thatcher, said yesterday at a panel discussion at St. Paul’s Cathedral in London. The panel’s discussion topic was, “What is the place of morality in the marketplace?”


"Yes suh maasah. It be good that you nice folks ovah at da Goldman Sachs be making all dat money." -anonymous debt slave

Why don't some of you Goldman folks take a trip over to Michigan where the unemployment rates have skyrocketed and ask them how your theft of the taxpayers money is working out for them ....... or how crashing the market has helped those people going bankrupt over hospital bills ....... or those people whose loved ones will die this year because of what you've done?

Read the rest. Click here


Anonymous said...

A few people at the top get huge bonuses, those at the bottom get nothing except more cutbacks.

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