If the rule for leveraging is 12 to 1, it boggles the mind to think of Goldman Sachs leveraging 333 to 1 (as the video below states). Either Goldman Sachs was pathetically bankrupt (and the Fed bailed it out to the tune of $590 billion in total) or Goldman Sachs can pay whatever bonuses it wants to for infinity. Neither prospect bodes well for the country. If there are rules about leveraging, then why isn't Goldman Sachs facing prosecution for this action alone? If Goldman Sachs takes huge risks, then it should pay for that risk itself; the taxpayer should not pay for any of the risk GS takes.
Goldman Sachs is paying itself pretty well: "Goldman Sachs Chief Executive Officer Lloyd Blankfein will receive a bonus of $24million this year Goldman Sachs President and COO Gary Cohn will receive a bonus of $24million this year." (by Daniel Bates at dailymail.co.uk on poorrichard's blog)
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