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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

Saturday, December 12, 2009

Obama's sellout to Goldman Sachs

In the previous post, Larry comments on Matt Taibbi's latest article on Goldman Sachs and the rest of the Wall Street crime cabal- "If we want change we need to clean house - not just the White House but the House of Representatives and the Senate where you have long term members (dictators) who run the show."

I couldn't agree more. If I vote for a Democrat or a Republican, I'm voting for Goldman Sachs and therefore, voting for Wall Street to rape the middle class. For the first time in my 50+ years, I feel that I must vote for a third party candidate. With the exception of a few people like Bernie Sanders, neither side can be trusted. Sure they'll promise us a rose garden, talk big about all the financial reform they are going to impose but in the end, it's all talk.

If you haven't read Taibbi's article, you should. It lays out very clearly the betrayal.

Obama's Big Sellout

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers "at the expense of hardworking Americans." Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it's not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.

Then he got elected.


Read the rest of the article here.


Anonymous said...

Now it all makes sense.

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