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.
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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". 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