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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

Worse than Goldman Sachs

I don't agree with Ron Paul on a lot of social issues but he hits this right out of the park when he was asked about Goldman. Ellen Brown's book "Web of Debt" lays it all out in clear language on what is wrong with our financial system. It is a must read if you want to understand where we are and how we got there.


Anonymous said...

Goldman/Fed anger: Their one in the same!

Anonymous said...

Let the Goldman's of the world eat their own frauds!

Alienating Economic

Anonymous said...

CNBC has been bought by Goldman. This interviewer and her colleague are always defending Goldman. In fact the thing they choose to highlight during the interview was that anger should be directed against the Fed instead of Goldman. As though Goldman is faultless.

Anonymous said...

If this kid got this for a $785,000 theft,
"Mandala made the plea in New York state Supreme Court in Manhattan today and faces a prison sentence of two to six years. "

what will the Goldman guys get for all their looting?

Anonymous said...

They really do not give a crap about the public...

Dodd to Abandon Latest Derivatives Proposal, Aide Says

WASHINGTON—Senate Banking Committee Chairman Christopher Dodd is expected to drop a controversial derivatives proposal he offered Tuesday after it met stiff resistance from an unusual coalition of Wall Street bankers and liberal Democrats, a Senate aide said.

The backlash came after Mr. Dodd (D., Conn.) tried to craft a provision to strip out another controversial ...

JR said...

Sometimes when I listen to Mr. Paul, I think he has a really good idea; then he says something stupid and it's all thrown away.

A lot of money is being tossed towards Congress to make sure that the banks are not regulated. Isn't that called "bribery"?

Goldman Sachs REO said...

It's so disconcerting to me that they continue to get away with this total BS. However I think with what we're seeing a sign in europe that this ship is sinking quicker than they thought, and that the end is year. I can only hope after the dust settles we'll all end up better.

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