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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

Wednesday, July 21, 2010

Goldman Sachs and The War On Wall Street

This article from The Huff Post is an extremely good read.  I have taken just a few excerpts from it and reprinted them just to give you an idea of where this article and Danny Schecter is going.


He is right on target as are some of the other reporters her quotes and refers to.


A generic U.S. World War II tank, a derivate o...Frankly, I don't think the war is over.  I feel there is an undeclared truce but that truce will be broken by the banksters of Wall Street in the not too distant future.  


Even with this worthless SEC settlement, more truth is coming forth.  Truth of corruption, deceit, illegal activities and a total lack of moral business-tude that placed profits at a much higher level then humanity itself.  


If Wall Street were a storm, it would be like a combination of the Tsunami in Thailand, the earthquake in Haiti and Hurricanes Katrina and Andrew(that hit South Florida in the 90's). If Wall Street were to be compared to a military action it would possibly be a very close cousin to the bombings of Hiroshima and Nagasaki, Japan.  A harsh comparison, I know, but those disasters took the lives and properties of millions while Wall Street has taken the livelihoods of millions, leaving many homeless, unemployed, broke and without hope of the future.  They have left a path of destruction unequaled in the financial history of the modern world.  



No, this "War" is not over.  It won't be over until the likes of companies like Goldman Sachs, JP Morgan and their fellow banksters are brought to justice.  It won't be over until  those "mortal" men who run these companies - dictate their direction and policies - are also brought to justice for their acts against mankind.  They are after all "War Criminals".
So if you want to "fight the power," the time for organizing and educating is here, with a vengeance. Don't let it slip away.  -  Danny Schechter

News Dissector Danny Schechter made the DVD "Plunder the Crime of our Time," a film on the financial crisis as a crime story, now showing on LINK TV, (Plunderthecrimeofourtime.com) Comments to dissector@mediachannel.org
The "War" On Wall Street May Be Over: Who Won?
Danny Schechter

Author of The Crime Of Our Time
Posted: July 19, 2010 04:25 PM on The Huffington Post.com
An unusual word crept into the lexicon of the New York Times op-ed page, the arbiter of approved thought in the age of economic collapse. The new conservative columnist Ross Douthat dusted off a key phrase associated with Marxism, "class war." 
......We have seen very few criminal prosecutions coming out of Obamaland. The recent settlement with Goldman Sachs was limited to one transaction, and quite affordable for the bank that's been called a "vampire squid on the face of humanity." Their shares went up when the slimy deal was done, and in any event, that $550 million they paid just represented 15 days of profit taking.(emphasis added by GS666)
.....The New York Times reports "Wall Street is already working around the new regulations," and "the ink is not even dry on the new rules, and the already, the bankers are a step ahead of everyone else."(emphasis added by GS666)
.....Indeed, the banking industry has been reaching out to regulators for months, and JP Morgan Chase has more than 100 teams studying the legislation."
When they say "studying" the legislation, they don't mean studying in any academic sense. They mean figuring out how to game it, undercut it undermine it and sabotage it, for starters, by imposing new fees and restructuring to evade the law. They are masters of playing this game. So far they spent an estimated $600 million fighting the bill so they have a big investment in assuring a business climate they can dominate'
 .....Leave it to Bill Gross, a top bond salesman to tell the Wall Street Journal bluntly, "Wall Street still owns Washington."
Read The Complete Article...click here  

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2 COMMENTS:

JR said...

Goldman Sachs Can't Say It Dodged This F-Bomb: Commentary by Jonathan Weil

While the Securities and Exchange Commission’s fraud lawsuit against Goldman Sachs may be over, the myths about what’s contained in the settlement agreement seem to have taken on a life of their own.

There’s been so much misinformation floating around on this subject that it’s time to set the record straight. Contrary to many reports over the past week, the SEC didn’t back off any of its fraud allegations. Nor will Goldman be allowed to deny the SEC’s harshest accusations. Yet over and over, articles and analyst reports keep popping up asserting otherwise.

More here:

http://tinyurl.com/248xv32

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