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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, March 31, 2010

Goldman Sachs Links and News - March 31 , 2010

Regulator seeks to rein in energy market trading by big Wall Street firms
Washington Post
No company has benefited more than Goldman Sachs

Attention Bloomberg Readers, No, There Was Not One Trader Who Lost ...
By Courtney Comstock
California Debt Trumps Greece's in Bond Sales: Credit Markets
Greece's quandary drew attention to a currency swap organized by Goldman Sachs

Fed Releases Details on Bear Stearns, AIG Portfolios (Update2)
San Francisco Chronicle
... banks such as Goldman Sachs Group Inc. and

Goldman Sachs Isn't as Good as You Think
Motley Fool
The Reaction: How's Goldman Sachs going to exploit this?
By The Garlic 
The Greedy Bastards Hall of Shame: Goldman-Sachs Thrives
By Mz.Many Names 
Goldman Sachs generates huge profits in bonds | OSHedge Blog
By lifegauge 
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Anonymous said...

The Commodity Futures Trading Commission, a U.S. government
regulatory agency, held hearings in Washington D.C. in late March
regarding position limits in the futures market.

People involved in the markets have known/suspected for years that
they have been manipulated by certain large entities, notably JP
Morgan and Goldman Sachs.

These hearings were supposed to be a non-event. However, despite
the media lock-down, the word is getting out.

The CFTC, like the SEC, is a conflicted agency. Some people,
notably Chairman Gary Gensler and Commissioner Bart Chilton, seem to
want to clean up the sleaze, fraud and corruption.

Anonymous said...

This is a beaut.......and you wonder why people are fed up.

The really sordid part of the Jefferson County story is how the banks funneled millions of dollars to buddies of the County Commissioner, who in turn bribed the local pols to sign off on the crappy swap deals. In the case of former Commissioner Larry Langford, a local greaseball named Bill Blount who had been paid millions in “consulting” fees by the banks was literally following Langford around with a charge card, picking up the tab for things like watches and Zegna suits. We get a rare look into this process in JeffCo, where the SEC published transcripts of taped conversations involving JP Morgan bankers talking about how much money it would take to grease guys like Blount. “Just tell us how much,” we hear former JP Morgan executive Charles LeCroy saying.

Anonymous said...

Goldman Sachs Has A Message For The World

Goldman Sachs: Don't Blame Us
When it comes to its role in the financial crisis, Goldman Sachs has a message for the world: Not guilty. Not one bit

The firm's 32,000 employees are seen as an army of Gordon Gekkos, greedy manipulators who pumped up the housing bubble, then bet opportunistically on its implosion as American International Group (AIG), its trading partner, buckled under massive debts. It is widely alleged—though unproven—that Goldman called on its close friends in government to arrange for an AIG bailout, effectively pocketing billions of taxpayer dollars. "Every game has a sucker," says William K. Black, a professor of law and economics at the University of Missouri at Kansas City who was deputy director of the Federal Savings & Loan Insurance Corp., "and in this case, the sucker was not so much AIG as it was the U.S. government and taxpayer."

Heads Goldman wins, tails you lose, America.

Anonymous said...


Simon Johnson: Big Banks Are Blackmailing the Country

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