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

Tuesday, April 6, 2010

Goldman Sachs Links and News - April 6, 2010

Goldman Sachs grows stronger even as reputation slides
Los Angeles Times
Poll: Goldman Sachs and other big banks have poor reputations
PR problems at Goldman Sachs don't keep away clients | Money ...
By Nathaniel Popper
Meg Whitman's Shady Goldman Sachs Past -- Is It California's ...
 Goldman Sachs's ties to Meg Whitman questioned
 Goldman Sachs' Aganga Named Nigerian Finance Minister
BusinessWeek...GS666 Note:  Watch out Nigeria, GS seems to be infiltrating your government.

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Anonymous said...

Goldman must have hired Roger Stone as in,
""Admit nothing, deny everything, launch counterattack."[2]"

(Notice they did not say ALL clients)

Goldman Sachs Denies It Bet Against Mortgage Clients

Anonymous said...

Remember this quote....

"It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime." … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer

Goldman Denies It Bet Against Clients

Goldman has just issued an eight page letter to shareholders, in which it tries to defend itself against its critics, particularly regarding its conduct vis-a-vis AIG, with how it got short the residential mortgage market, and its compensation.

To be more terse than usual: the AIG argument is generally plausible (and not inconsistent with what Tom Adams’ analysis has found), the other two are problematic. to put it politely.

Anonymous said...

Goldman Sachs: Spinning Gold

Goldman Sachs claims great risk management skills, while it shirks responsibility for its role in the near collapse of the U.S. economy. The former is a myth, and the latter is a dodge. [1] As taxpayer wealth was destroyed, Goldman exploited the financial crisis it helped cause, while the U.S. was (and remains) at war.

Goldman Sachs released its 2009 annual report today showing it made net revenues of $45.17 billion with net earnings of $13.39 billion. In its shareholder letter, Goldman says it repaid TARP money, but did not mention the massive new taxpayer subsidies it continues to enjoy.

Built to Fail

There was fraud by borrowers and speculation, but there was also massive widespread predatory lending. Most victims were the least sophisticated borrowers. Mortgage lenders engaged in a variety of frauds including phony appraisals, altered documents, hidden fees, lies about the type of loan, and lies about the maximum payments. As for CDOs, the SEC dropped seminal investigations.

Many of Goldman's "investments" crashed like an airplane made from faulty components. Some of the CDOs Goldman created--including some sold to French banks that traded with AIG--ended up in money market funds (as asset backed commercial paper) bought by retail investors.

Unknown said...

Here is one of my favorite quotes from famous:

Cecil Parkinson: "It is better to be a has-been than a never-was."

Larry Rubinoff said...

@John: thank you for your quotes. One was published in our quote sidebar to the left.

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