GoldmanSachs666 Message Board

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, January 14, 2010

Goldman Sachs CEO To Testify At FCIC Hearings - Update 1 video update on the FCIC hearings.

The Great Bank Robbery Conspiracy Paulson Bernanke Geithner Goldman Sachs Bankers Steal Your Money Bank Hearings Video Summary  
(As posted in Before It's News...Read the full here)

Goldman CEO Supports Fiduciary Standard  as published by Financial Advisor ( here)
Blankfein faced tough questioning during the hearing from former California State Treasurer Phil Angelides, who heads the commission. Angelides, at one point, asked Blankfein whether a practice of betting against some of the subprime mortgage securities Goldman was selling to investors was a conflict of interest.
He replied that Goldman didn't have a legal obligation to disclose when it was betting against the securities it was selling.
"We are not a fiduciary," he said.
RobertM made some very good comments in my previous post. Be sure to read them.


Anonymous said...

The Subsidy That Won't Die

The big banks claim the government isn't helping them anymore. Not exactly. Check out this little-known subsidy.

But the big American banks aren't nearly so independent as they would have us believe. JPMorgan Chase, Goldman Sachs, and their peers are still benefitting hugely from significant post-crisis subsidy programs that boost their profits. I'm talking mostly about the Temporary Liquidity Guarantee Program (TLGP). This was a program started in the wake of the Lehman Bros. collapse to deal with the fact that banks were having a tough time raising short-term capital on decent terms. Under the TLGP, the Federal Deposit Insurance Corp., which is ultimately backed by the taxpayers, would guarantee debt in exchange for fees paid by the banks issuing debt.

The TGLP was ended to new entrants in June 2009 and thus far has gone without a loss. But the fact remains: Private companies were allowed to borrow massive amounts of money—$345 billion at the peak in May 2009—on the public's credit. At the end of the third quarter, there was still $313 billion outstanding.

Anonymous said...

WE THE PEOPLE (Have Had Enough)

Wall Street may effectively own Washington DC and the politicians but they do not own us.



WE THE PEOPLE have the freedom to associate - or not.

WE THE PEOPLE have the right to demand legal tender in payment of debts owed us.

WE THE PEOPLE have the right to demand that these institutions eat their own cooking on each and every one of the loans they securitized and peddled during these years without fair and full disclosure to the buyers that these loans were rife with fraud.

WE THE PEOPLE have the right - and the ability - to take personal, lawful action with specific, lawful political and business-oriented goals, including permanent structural changes that will end "too big to fail" and "rip off the consumer on demand" policies, including the full reinstatement of Glass-Steagall which will END financial speculation and dealing in all of its forms by firms that have access to Federal Reserve credit and/or any sort of public backstop.

Make this message - this post - viral. Send it to your associates. Send it to the media. Send it to politicians. Get involved and do it now.

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