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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

Monday, December 14, 2009

Dylan Ratigan on Goldmans Sachs: Guns, Parties and Are They Victims?

This aired on MSNBC's Morning Meeting with Dylan Ratigan on December 2, 2009.

This video runs 3 minutes

Dylan Ratigan refers to the Bloomberg article - by Alice Schroeder - on Goldman Sachs employees getting gun permits.  Some have said that they are not but in this video Ratigan states that the NYPD confirms this but cannot disclose any names.  The story of "Guns and Bonuses" continues. 

More talk about Goldman's Christmas parties or lack thereof.  The parties this year are being limited to no more then 12 people.  So, how many parties of 12 will there be?

Then he talks about Goldman Sachs begin a victim of this financial crisis..."victims of themselves".

Victims or Architects of the Scam (Goldman  

The question of GS being a victim of this crisis can maybe be best explained by the story posted in Market Trends in which it quotes the Wall Street Journal in their investigation showing Goldman not only a willing participant but as the "architect" of the scam that broke the world's economies.
The Wall Street Journal has put forward an article that adds color to the general view I have always held about securitization, risk-shedding, and what I allege amounts to organized, systemic fraud by our "big banks."
Goldman Sachs Group Inc. played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American International Group Inc.
In Goldman's biggest deal, it acted as a middleman between AIG and banks, taking on the risk of as much as $14 billion of mortgage-related investments. Then Goldman insured that risk with one trading partner—AIG, according to the Journal's analysis and people familiar with the trades.
This piece lays out how the scam worked and is well worth the read.

The question still remains - at least in my mind - how a "scam" can be identified by so many without any investigaton by "so many" in our justice system.  Madoff ran a scam, was arrested, convicted and sentenced to "eternity" in prison.  Yet his "scam" paled in comparison to that of GS.  When Bankfein admitted being the cause of the worldwide financial crisis - was that not a signal for the justice system to step in?  What is really going on here?  Apparently GS has so much "power" and "influence" that they truly are - as they believe - above the law.  Add being above the law to carrying guns and what do you have?  A massive criminal enterprise that now becomes physically dangerous to the society.

The dots are connecting almost everywhere you turn.  We here at are not reporters, we do no investigative work and we are not the "legitimate" media.  We are private citizens who volunteer our time as concerned citizens who feel the need to expose the truth.   Yet, those who are in the main stream of media and do investigative reporting like Bloomberg, MSNBC, The Wall Street Journal, Reuters and the many others that report on this daily can't all be wrong.  But it seems that the "powers to be" are just not listening...or are they?

If they are they don't seem to care about the people of this country anymore and in effect don';t seem to care about our Constitution.  But perhaps, when we speak of the "powers to be" we typically mean our elected officials when in fact, they may very well be our large, "too big to fail" corporations.

In the words of our founder, Mike Morgan, "WAKE UP AMERICA!"

Read the full article at Market here


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