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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

Wednesday, January 20, 2010

Goldman Sachs Donates To Haitian Cause...and A Call To Action

And they (GS) wonder why they get such bad PR.  They (GS) are truly their own worst enemy.

The Humanitarian effort for Haiti continues from all corners of the world.  The United States initially gave $100 million.  Larry King on his two hour program this past Monday raised about $5 million and Goldman Sachs gave $1 million.

Let's take a look at what Goldman's donation really meant as it is put into perspective. 

Tom Gregory: Goldman Sachs Donates 11 Minutes To Haiti !!! here for link to News Feed Blog
Goldman Sachs press office has announced the firm “will be donating $1,000,000″ to the Haiti Relief Effort.

Goldman Sachs made $9Billion in profits last year. That is $174 Million per week, $38 Million per trading day, $5.7 Million per trading hour, $96,000 per minute.
The Goldman Sachs donation represents 11 minutes of the firm’s profits.

 Now, this is not to say that the $1 million is not appreciated or needed but come on now, 11 minutes worth of profit.  This not to mention how much or how little this is in terms of their bonuses.  

If they are paying out $26 billion in bonuses then 1% of the bonus pool would be $26 million.  Just 1 lousy little percent would be 26 times what they are so generously giving to a nation - no, to people, human beings, men, women AND CHILDREN - devastated, mutilated and desperate.

Did not "his holiness" Blankfein talk about his executives giving to charity?  Would, in fact, any of his executives (including himself) notice any difference in their lives or lifestyles if they each gave $1 million?  I don't think so but it would make a very large difference in the lives - not lifestyles - of millions of Haitians.

Mr. Blankfein, think about this for a moment.  These are people, human beings, that need all the help the world can give and you and your people certainly have the ability to do more.  And you wonder why there is so much negative press against you.  Oh, I understand, there is nothing in Haiti for you to profit from.  You don't need any of these people as investors, they can't be.  Even the few upper class in Haiti will be in dire straights for some time to come.  So why help, is that it?

Your donation is a disgrace.  You are a disgrace.  Your company is a disgrace.  

Money is all relative and you guys relatively have a lot of it.  Now is the time to improve your image by truly "dong gods work" and helping these people to the fullest extent you can comfortably afford without diminishing your own needs.

I would even propose to you that we form a joint relief effort whereby any money we can raise through this site would be matched by you as well as being administered by you.  I know you monitor this site.  If you are interested you can contact me directly at  I will certainly and personally respond if you do.

In times like this everyone must put aside their differences and move ahead in a common cause that truly is needed and Humanitarian in nature.

The sights and sounds coming from Haiti via the news media are horrific.  The pain and suffering is inhumane to say the least.  To all our readers, help the Haitian people any way you can.

If there is anyone else out there that can help to set up a donation fund, secure and legitimate whereby all donations are distributed property and through proper established channels, please also contact me at

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Anonymous said...

At this point everything they (gs) send is like buying votes...I hope they keep sending but their not getting my vote.


Darrell Issa Accuses FRBNY Of Contempt For Selective Document Disclosure

Rep. Darrell Issa comes out guns blazing once again, alleging that the Fed provided a selective response to the subpoena to provide all documents relating to the AIG bailout, and asks Edolphus Towns, Chairman of the House Committee on Oversight and Government Reform, to hold Fed officials responsible for this act, in contempt.

Anonymous said...

If one billion is one thousand million, then $260 million would be one percent of GS Planned $26 billion
in "bonuses" (to divi up the heist).

I heard two different commentators say GS "didn't do anything wrong." How many "brave" reporters have accused Wall Street only of "Excessive Greed"?

Cheap Viagra said...

It is so nice when people get organized in order to help people in need.
Haiti, which is a poor country, was terribly destroyed by an earthquake.
Thanks to all who join help teams!

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