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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, December 1, 2009

Christmas is Cancelled for Goldman Sachs

Editor's note: Gee, you'd think with all of this sneaky "don't let the neighbors see" behavior on the part of the Goldman rats it's almost as if they are feeling guilty. Or is it just that they know they've got one hell of a PR nightmare to deal with if Johnny Roastbeef shows up at a GS party in a brand new pink Cadillac? What's the problem? It's in his mother-in-law's name. This is a joke and as far as I'm concerned, GS can party all they want, it's not going to change my feelings. - JDA


Goldman Sachs employees received a voicemail announcement instructing them not to organize private Christmas parties for the firm's employees even at their own homes, a person familiar with the matter said.

The firm has canceled its annual holiday party, just as it did last year. It also instructed the smaller business units that they should not organize their own smaller parties, which had been a long tradition at the firm. The parties are banned even if no firm money goes to pay for them.

Read the rest via Jr Deputy Accountant here.


Anonymous said...

Why don't they "bonus out" their(?) " excess" profits to the government and start from square 1 like everyone else?

When it comes to leadership in Washington on financial services policy, JPMorgan and Goldman Sachs have "the floor to themselves" and no one speaks for the public interest - not Ben Bernanke, not even the President. If Barrack Obama had the courage to resolve AIG and Citigroup using the fire of bankruptcy and liquidation to restore function to the financial markets, the economy would truly be on the mend, but most of the major banks would have new managers, directors and shareholders today. And we would no doubt also have a new Fed chairman whose term in office would have been confirmed by the Senate last year.

The bankers counsel extend and pretend; buy time and all will be well.

Chairman Bernanke and the banksters say that the way out of the crisis is slow healing, muddle along and let time salve the wounds that the large banks inflicted on us all. Using the tough medicine of restructuring and management change would help revive lending and the real economy sooner, but that would be inconvenient for the captains of the New York banks, who plan of playing record bonuses this winter as millions of Americans are without work.

Mandelman said...

Another tidbit about Lord Blankcheck and the Goldman Sucks gang... Apparently, several of the Goldman execs have recently applied for concealed weapon carry permits, so I'm starting a pool: How many days will it be before one of these chicken-shit banking dweebs shoots his paperboy, or someone's 7 year-old shoots his little brother?

Of course, if one of these GS idiots ends up shooting his own junk off, well, now that would be entertainment.

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