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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

Thursday, November 19, 2009

Time's up for Tim Geithner...Is He Connected To Goldman Sachs?

Editor's Note: This post by Guest Author Frank Hope was originally publshed on Future News Today. While our site is dedicated to direct stories, news and information about Goldman Sachs, we invited Frank to publish his article here as we feel it is relevant and important for our readers. We look forward to future guest posts from Frank.

For more of Frank's comments, news and views please visit his site - Future News Today.

The way I see it at this point Timothy Geithner has two choices - either he can resign or be fired. Congress is gunning for him and eventually Obama will be forced to offer him up as a sacrifice. Of course his friends over at Goldman Sachs will do everything in their power to weather this storm. Bernanke, too, must be sweating knowing that he's next to be brought up before the congressional firing line. And Larry Summers has been hiding out of sight - maybe in one of Cheney's old bunkers.

Today Tim Geithner was asked point blank to resign by Representative Kevin Brady of (R-Texas).

Yesterday Representative Peter DeFazio (D-Oregon) called for Obama to axe Geithner. DeFazio is one of the good guys in Congress. He's clearly lost his patience with Geithner's machinations in favor of Wall Street and to the detriment of Main Street.

The chorus of boos for Geithner is growing. This comes in the aftermath of new revelations from SIGTARP Neil Barofsky regarding Tim's handling of the AIG bailout as President of the New York Federal Reserve Bank.

My advise to Tim, watch your back. That knife in the dorsal area may come from someone that you least suspect. Think you've got friends watching out for you? Think again. They'll throw you to the lions to save their hides in a New York Wall Street minute.

Maybe this episode will blow over like previous criticisms of Geithner. Maybe Obama will "stand by his [Gold]man" like he has in the past. But Geithner is increasingly being maneuvered into a corner. And there are growing calls for him to be sacrificed to the populist lions.

Want some more advice Tim? Better to go quietly. If you attempt to take down some of your former friends with you, it could end up very badly for you. Yeah, watch your back and go quietly. That's always good advice to someone who is involved up to his neck in a criminal conspiracy that is about to be publicly exposed.


Anonymous said...

unfortunately he will not suffer financial hardship as i am sure he will soon be picked up by one of his present masters.

i also dont expect him to face prosecution as that would erupt into an ugly pig fight on Wall st and Capital Hill.

Publius said...

Great, I am on the same side as DeFazio. Just what I want, to team up with a socialist moron. This is the guy whose solution to our problem is more taxes and more government benefits. He is the one who is pushing for creating taxes on all stock transactions.

This moron is not upset that Geithner is stealing and wasting our money, he is upset that the stolen and wated money is not being used the way he wants to use it.

If this guy has a problem he should be bad mouthing his President, not Geithner the front man.

Anonymous said...

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cybervigilante said...

Now it turns out that Goldman Sachs was shorting the very CDOs it was selling to suckers. And Geithner is in bed with these crooks? Throw him off the boat, please.

Cheap Viagra said...

Timothy Geithner is making a great effort, I admire him!
Everything is just gonna be fine!
We just have to be nice persons in order to keep the right society balance!

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