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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

Thursday, May 6, 2010

Goldman Sachs: A Tale of Two Streets



Anonymous said...

A Tale of 2 systems....
For Bill on Lawmaker Trading, Delay Is Long and Short of It


A bill that would require speedier disclosure of stock trades by lawmakers has languished for years on Capitol Hill, suggesting Congress has little appetite for new rules on how its members manage their money.

The legislation, by Democratic Reps. Brian Baird of Washington and Louise Slaughter of New York, would prohibit lawmakers from trading in financial markets based on nonpublic information they learn on the job. It would also require them to make their financial transactions public within 90 days of a purchase or sale.

Currently, those disclosures are filed once a year, and insider-trading laws generally do not apply ...

Anonymous said...

If a black box can be blamed for today's 1000 point collapse, why couldn't that same black box be the reason for the past year's rise and divorce from economic realities like the video suggests? What ever happened to that programmer from Goldman that had software that was considered able to move markets? This is very frigged up...

Anonymous said...

Emergency Alert! - Sanders SELL OUT under pressure!

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