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".[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, December 19, 2010

Goldman Sachs's Greed Knows No Restraint

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 on poorrichard's blog)

You can see the video here


Anonymous said...

19 December 2010
Greed Is Not Good

With regards to the global financial crisis, imposing austerity is not the answer. That is like starving the slaves to improve their condition by making the plantation more profitable. Looting the 'great house' and the barns to feed the slaves, at least temporarily, is not the answer either. The problem is obviously in the system itself.

But either expedient solution suits the external monied interests promoting the system who seek only to plunder and drain the assets and labor of others who are all their common prey, whether they feel their kinship or not. An unjust and unsustainable system tarnishes all participants and leaves them vulnerable to exploitation and decay.

It is the root causes of the debt and the imbalances in the system that must be addressed to make any reform sustainable. And this obviously includes addressing abuses such as the promotion of a global trade regime that is inherently unjust and imbalanced to the favor of the oligarchs of whatever political wrappings around the world who hold the greater profit to themselves and leave their people relatively impoverished and exploited. And it also includes the waging of unfunded wars to protect and promote privileged commerical interests, and a political funding system that is little more than soft graft and an open invitation to corruption by special interests.

Anonymous said...

Jefferson Was Right about bankers being a bigger threat than standing armies. I feel it is time to collect as much as possible to keep your family alive during this econimic dark winter that is fast approaching... Good Luck and God help us all of what is to come.

Anonymous said...

The Change

Post a Comment