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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, May 19, 2010

Goldman now wants your 401k

Ha! Goldman wants to do to 401k accounts what they've done to clients in the previous post- Goldman's Trading Advice: HORRIBLE!. Would you trust Goldman with your life's savings?

Goldman Sachs Seeks Bigger Share of 401(k) Accounts


Related post here "Nations Over Banks (Who Serve Only Themselves)"


Goldman Sachs REO said...

Yeah , doesn't surprise me ONE FREAKING BIT!

There's been talk for a while now about dissolving our 401ks and throwing em into SS and I wouldn't be surprised one bit if goldman was behind it.

I've been following your blog for a little while, and i'm curious , how do you personally think we can solve this?

JR said...

Well, the following article (and its many links) pretty much follow Goldman Sachs through its many iterations over the years. Goldman invariably leaves behind disaster and bankruptcies. It is truly astounding that all their machinations are considered legal (though unethical)!!

RobertM said...

@"I've been following your blog for a little while, and i'm curious , how do you personally think we can solve this?"

Dylan Ratigan has laid out the fixes to the markets and Ellen Brown has laid out how to fix the system in general in her book "Web of Debt". She will be the first to suggest there are many routes that would work just as well, such as what has been proposed by the American Monetary Act or All lead to returning the power to create money back to the only representatives we have- government, a government restrained by law. The creation of money should be limited to law and not whatever private parties can usurp to their advantage at the expense of a countries citizens. That is MY personal opinion. Larry may have different ideas. I think Aristotle had it right a long time ago- "Money exists not by nature but by law".

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