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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

Tuesday, November 3, 2009

Goldman Sachs Links and News - November 3, 2009

Goldman Sachs Pursues Another $1 Billion Federal Tax Benefit ...
By Joann M. Weiner
As if $22 billion in bonuses were not enough, Goldman Sachs would now like to obtain another $1 billion in tax benefits from the federal.

It's no secret that Goldman Sachs has an enormously profitable trading operation. In the most recent quarter they reported an astounding $10B in total trading and investments. This represented 81% of the firms total revenues. ...

Canwest Global, Goldman Sachs in court
Hollywood Reporter
Gerry Cardinale, managing director at Goldman Sachs, told the CRTC that the key to marital bliss was ensuring "there is no gaming going on in terms of the ...

Goldman Sachs Hopes To Receive Approval This Week For $1 Billion ...
By Zacks Investment Research
Goldman Sachs Group Inc. [[GS]] is contemplating buying tax credits from Fannie Mae [[FNM]]. However, it may be reasonable to assume that the US Treasury.

JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Goldman Sachs (NYSE: GS ...
American Banking News
The Federal Reserve met privately with top banking officials at JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Goldman Sachs (NYSE: GS), Morgan Stanley ...

Geithner urges banks to 'take a chance again'
My question is, how can you justify a-- company like Goldman Sachs making so much money, as it's now doing, by taking some of the trading risks that it's ...


Anonymous said...

Ratigan's Four Simple Yet Brilliant Proposals On How To Fix The System

Dylan's four (shockingly logical) proposals on how to fix the broken financial system:

* Inject transparency, primarily to bring almost $500 trillion in swaps to the forefront.
* Capital to back Wall Street's gambling. It is a guarantee that very few firms will have Goldman's trading pattern each and every quarter.
* Enact a tax-code to discourage short-term profits. "Fortunes should not be made in minutes but over years through the creation of value to society."
* Break up the Too Big To Fail banking institutions. Start with Goldman Sachs. Right Now. Christine Varney, we are still looking at you.

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