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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

Tuesday, March 9, 2010

Goldman Sachs PR - The Good, The Bad, The Ugly

Charlie Gasparino, FOX Business News, recently talked about the Fake Lucas van Praag Twitter page.  Lucas van Praag is Goldman Sachs (GS) Global Head of Corporate Communications who has not helped improve the GS image.  Yet his "Fake" Twitter page has garnered a lot of attention.  The comments are funny. 

Here is Charlie Gasparino's report: Who's Behind Lucas V. Praag's Tweets

It is unknown who started the "Fake Lucas van Praag" Twitter site but Charlie G. - using all his skills as an investigative reporter (said with humor) - has come to the conclusion that it was Bess Levin of The DealBreaker blog.  In an apparent quote given on CG's blog, Ms. Levin says,
...I will neither confirm nor deny” involvement in the tweets, which have become a sensation on Wall Street trading desks and financial bloggers.
Regardless of who started it, it is posted as "Fake Lucas van Praag" even though it does sport his picture in the upper left hand corner.(I assume it is van Praag's real likeness) and sends yet another clear message to GS as to the reputation they enjoy or actually, don't enjoy.

One thing for sure - it is evidencing - is that GS is not liked by many people including some in the media like Taibi of Rolling Stone.  The question is still why?  Why this continued daily outrage over Goldman Sachs?  Of course we know some of the reasons - bailout money they took, high bonuses and paythey take and banking status without really being a bank.  But most of all the suggestion that they have a large control over our government - hence the people - is, I believe, where most of the dislike/distrust comes from.  All in all, GS is their own worst enemy especiallyl when it comes to PR.  That being the case, then Lucas van Praag is "corporate enemy #1.  (I don't Twitter but I couldn't help taking a shot).

Some questions that need answers:
  • Who are they?
  • Are they one of the "secret" owners of The Federal Reserve?
  • How much power do they really have?
  • Are they part of "The New World Order" trying to control the economies of the world?
  • How do they continue to get away with the way they operate without any repercussions?
  • What are their true motives?
My personal belief is that if the truth is ever known, it would be the demise of GS along with others such as JPMorgan and more.  In short, it could spell the demise of our entire banking system as it is now.  Maybe not a bad thing to happen.  Perhaps a return to the old regional banking system with smaller, controllable banks is a much better system and could be the answer to many of our problems.

We shall all continue to seek out the truth no matter what the consequences.  If it is bad for the people then it is just plain bad. The people have a right to know the truth and to democratically correct what is wrong.

I want to thank Fox News Network for bringing Charlie's report to my attention.  While not a major story to impact our lives, it certainly contains an element of humor which we can all use some of.

Goldman Sachs is nearing a decision on whether to launch an all-out media blitz to combat a massive wave of negative publicity that some people inside the firm believe could soon result in lower profits as companies that once flocked to the financial powerhouse turn to less controversial firms for investment-banking advice, FBN has learned.
The full here
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Anonymous said...

Lucas van Praag please seems there is Truth risk on your balance sheet.

@14 minutes listen to Greg Palast to explain why the game continues....

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