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, March 4, 2010

Goldman Sachs- 40 trillion in derivatives

For those of you who haven't seen The Still Report on youtube, you should do yourself a favor and check it out (I admit I'm late getting to the game as well). At the 2 minute mark, Bill Still (the Producer of The Money Masters) points out how Goldman has 333 times the amount of derivatives bets than their assets. This may have changed somewhat since the video was produced in November '09 but the fact remains that our banking system is broken and needs major reform.

Check out the whole Still Report series on his channel at youtube and see if you agree with me that he's on the right track. Feel free to flame me in the comments if I'm wrong.


Anonymous said...

More Headaches For The Goldman PR Department

"Today, we have a much more entertaining (and thus sure to go viral) 10 minute long, easily digestable summary of the firm that took the face of humanity, inserted its blood-sucking proboscis, and sucked (to borrow an allegory). Now that Goldman has added blogs and other web-based media as a risk factor in its 10-K, we wonder if next year's version will also include references to viral YouTube videos disclosing "unsubstantiated" facts about the firm"

Anonymous said...

"All political thinking for years past has been vitiated in the same way. People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome." … George Orwell

Keiser also talks to David DeGraw about his new book, “The Economic Elite versus the People of the United States of America.”

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