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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

Monday, August 30, 2010

Goldman Sachs Links and News - August 30, 2010

 Editor's Note:  Axa gives the "axe" to Goldman Sachs.   
This looks like it is the story of the day if not the week.  Axa was a major stockholder and as you can see by the headlines below, they have substantially reduced their holdings.  This move amid other Wall Street guru's saying GS is still a hot commodity. 

What does Axa know that Wall Street is trying to hide?  We will follow this as it develops.

Axa cuts stake in Goldman Sachs: documents
Axa reduces stake in Goldman
Financial Times
AXA Halves Its Goldman Holdings in Quarter
New York Times (blog) Axa Reduces Stake in Goldman Sachs
By Robert Wenzel
Ex-Goldman Execs to Invest in Warehouse Fund
New York Times (blog)Ex-Goldman Executives May Raise $350 Million for Warehouses Fund in India
Get Briefed: George Walker
Prior to working at Neuberger Berman, Walker was a partner at Goldman Sachs ( GS - news - people ) and part of the company's partnership committee
New Trailer Release for "INSIDE JOB"

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Anonymous said...

"I wonder how many times a flood of lies have been used to discredit one truth?" ... Duane Alan Hahn

Anonymous said...

HFT's Tyranny Of Stock Markets

Some relevant soundbites: "Unfortunately, high-frequency trader interaction with computerized algorithms of large-cap financial institutions is providing opportunities for high-speed, virtually undetectable market manipulation",

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