Goldman Sachs: Information, Comments, Opinions and Facts: Is Goldman Sachs Screwing People To Be That Profitable?

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Fraud*
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

Monday, April 19, 2010

Is Goldman Sachs Screwing People To Be That Profitable?

This is a question raised this morning by Fox Business' Charles Gasparino on Varney and Company.

More record profits to be announced by Goldman Sachs but are they legal, moral or ethical? Probably some are and some are not. We will all learn more as the SEC case unfolds. Listen to what Charlie has to say.

Also on FOX
Goldman: The Devil Is in the Details

The Wall Street Journal’s Scott Patterson on the lawsuit financial giant Goldman Sachs is facing

In this interview, WSJ reporter Scott Petterson raise some good questions and makes some very good observations. At one point he says

Goldman Sachs knew what was going on. They knew they (referencing the mortgage backed securities) were toxic.

.The issue of the ratings agencies - like Moody's - participation is also raised. Watch and Listen.

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