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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

Sunday, October 18, 2009

Is Goldman Sachs Committing Accounting Fraud?

Max Keiser appearing on Face Off clearly states that Goldman Sachs and others are committing accounting fraud and cooking the books.  View this seven + minute video broadcast of Face Off and hear for yourself.

I have believed and still do believe that the fraud being committed by those we have bailed out make Madoff look like a small time street criminal.  Off Balance Sheet items, deferred losses and overnight approval and transfer of bailout funds with no public oversight should be enough for us to openly question what is going on.  It also leaves open the question of how involved our own government is in this fraud and who in our government are complicit in this. 

As Keiser says, we are being turned into a nation of peasants or as I and others call it "sheeples".  We are bathing in our misery and hunger and few of us have the willingness to speak out. 

Through this blog, I will attempt to bring you the ones that do.  You may agree with some of what they have to say, all of what they have to say or none of what they have to say, but when you see and hear the same thread from various different sources you must begin to pay attention.


Anonymous said...

Goldman Sachs is not a bank. It is a corporate veil pulled over the operations of a gang that manufactures and distributes fraudulent mortgage "backed" products. Part of their operation is to corrupt government. If "Hamlet" Obama now that he realizes GS has poured poison into the ear of our economy, ever overcomes his melancholy--maybe we'll have some prosecutions. Something stinks in Denmark.

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