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, May 4, 2010

Goldman Sachs Pays $450,000 to Settle

Goldman Sachs Pays $450,000 to Settle NYSE Finding

May 4 (Bloomberg) -- Goldman Sachs Group Inc.’s execution and clearing unit agreed to pay NYSE Euronext and the Securities and Exchange Commission $450,000 to settle allegations it broke rules governing short sales on U.S. stocks because of a bookkeeping error.

Goldman Sachs was censured for violating the SEC’s Regulation SHO, which sets rules for handling bearish trades in equities. The infractions, which are unrelated to the SEC’s April 16 mortgage-related fraud suit against the world’s most profitable investment bank, involved requirements implemented in September 2008 to reduce naked short selling, in which firms sell stock short without intending to borrow the shares required to complete their obligations.

An emergency SEC rule implemented after Lehman Brothers Holdings Inc.’s collapse in September 2008 forced brokers to close short sales that didn’t settle by the morning of the fourth day after the trade. That regulation, called Rule 204T, also imposed stricter requirements on subsequent short sales when failures to deliver shares occurred. The rule was made permanent in July 2009.


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Jabba the Hutt: This Blankfein is my kind of scum: fearless and inventive.


Anonymous said...

Wee need accountability...

Monday, May 3, 2010
Turning the Tide on Lawcap and Fincap

Anonymous said...

Just curious...when you have protected money machine what do you care about fines?

It is hard to believe that this is the same man and that we are not watching part of a remake of “Invasion of the Body Snatchers.” Some may have thought it was a red flag when Buffett purchased his stake in Goldman Sachs, but that flag has now turned to one showing a skull and crossbones as Buffett has indeed joined forces with the modern day pirates.

Anonymous said...

Saturday - May 1

A Survival Strategy for Goldman Sachs

Anonymous said...

It's like an interlocking puzzle.

Max Keiser On Goldman Sachs And Bill Clinton's Hypocrisy

Anonymous said...

Government Sachs In The Cross-Hairs: What The Scandal Is All About

has been exposed for being what readers of Marko's Take, as well as anyone with a brain, already knew: the most corrupt and greedy institution on planet Earth! (But Marko... how do you REALLY feel?)

With so many allegations and opinions flying about, it's easy to get confused as to exactly what prompted the SEC complaint and how it relates to the Obama Administration's formerly cozy relationship with Government Sachs.

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