Eliot Spitzer understands Goldman Sachs as well as anyone except perhaps a GS insider. Not only does Goldman Sachs have incredible paydays, with egregious bonuses, but Goldman is perennially great at making money for itself, of spreading money around the financial system and of creating new millionaires and billionaires, but it does little to help the whole economy and does nothing to create jobs that actually assist in the growth of the whole economy.
Elito Spitzer was interviewed below on Bloomberg:
You can see the video here
GoldmanSachs666 Message Board
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". 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