SEC Subpoenas Goldman Sachs, JP Morgan, Citi, BofA and Wells Fargo Over Foreclosures
by Katya Wachtel - Business Insider
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
Saturday, December 18, 2010
What a wondrous place this land would be if banks like Goldman Sachs could feel the freedom of being open and transparent with the citizens of the USA instead of living in the shadow world of derivatives. Goldman Sachs successfully took its bad assets in MBSs off its books before the financial meltdown; now we are waiting to see just how the securitization of mortgages at GS helped to bring down the system. Oh, shine the pure light of day on Goldman Sachs!