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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

Sunday, September 19, 2010

How Goldman Sachs Makes Its Money

From PBS comes this video which reviews how Goldman Sachs takes great pleasure in making money in whatever way presents itself while at the same time ignoring the sufferings of those from whom they obtain their money. How hollow and shallow the pursuit of money is when your whole purpose is to make money, when your ethics are skewed by making money, when money breeds the only recognizable success in the company and when money is the only beauty GS can see.


Anonymous said...

Nothing wrong with making money but people are tired of all the rigged markets and cronyism used to perpetuate them!

Do a search on robert Rubin (goldman sachs)..its all related...

On the Edge with Jim Willie

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