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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

Friday, November 19, 2010

Goldman Sachs's Newest Crop of Millionaires and Billionaires Has Been Chosen!

The list won't be reproduced on this blog but if you really need to know who they are you can find all the names of the newest Goldman Sachs employees on eWallstreeter here. In the future, we will see them in the government, in the financial system, as heads of companies, as governors of banks and all over the globe they will be spreading their Goldman Sachs loyalty like a miasma.

DealBreaker also introduces the list with a little levity here.

Below you will find a video that introduces new bank employees to the ways of the rich. That could be Lloyd Blankfein speaking except for the British accent:






You can find the video here

3 COMMENTS:

Anonymous said...

Goldman Sachs just won't learn when it comes to bankers' pay
If bankers are the villains of the world, Goldman Sachs is Blofeld, Don Vito Corleone and Scarface rolled into one

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8146210/Goldman-Sachs-just-wont-learn-when-it-comes-to-bankers-pay.html

Anonymous said...

Maybe obama should give Stockman a medal for telling the truth!


Stockman Savages Buffett Op-Ed, Bailout Canards

At Minyanville (hat tip reader Michael Thomas), former Reagan budget director David Stockman eviscerates a New York Times op-ed by Warren Buffett in which the Shill of Omaha contends that the seize-up of the commercial paper markets in September 2008 been allowed to persist, it would have represented a comet-wiping-out-the-dinosaurs level event as far as ordinary Americans were concerned. Key excerpts:

If Warren Buffett wants to tarnish his golden years emitting the gushing drivel that appears in today’s New York Times, he has undoubtedly earned the privilege. But even ex cathedra pronouncements by the Oracle of Omaha are not exempt from the test of factual accuracy. Specifically, his claim that “many of our largest industrial companies, dependent upon commercial paper financing that had disappeared, were weeks away from exhausting their cash resources” is unadulterated urban legend. Nothing remotely close to this ever happened….

Indeed, even a cursory review of the composition of the $2 trillion CP market as of September 2008 shows that the “blowup” was actually about losses on reckless bets by a few thousand money managers, not the availability of ready cash to millions of Main Street businesses.

http://www.nakedcapitalism.com/2010/11/stockman-savages-buffett-op-ed-bailout-canards.html

Anonymous said...

I'm weary about the reliability of the claim. Whereby it is suggested Specifically, his claim that “many of our largest industrial companies & millionaires club , dependent upon commercial paper financing that had disappeared, were weeks away from exhausting their cash resources” is unadulterated urban legend.

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