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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, February 27, 2011

Goldman Sachs's Adam Storch

We are familiar by now with many of the former Goldman Sachs alumni that obtained positions with the Federal government--men who were put into or sought pivotal positions that later allowed them to take care of Goldman Sachs's interests. One of those men is Adam Storch.

According to Wikipedia, "Adam Storch (b. 1980) serves as the current Managing Executive of the Security and Exchange Commission's Division of Enforcement, having been hired on October 16, 2009. The position, along with the division, was created as a reaction to the subprime mortgage crisis. He was previously the Vice President in the Business Intelligence Group at Goldman Sachs.[1] Storch is a Certified Public Accountant in the state of New York and is also a Certified Internal Auditor and a Certified Fraud Examiner."

. . . . . . . . . . . . . . .

In the Scribd. document embedded below entitled, How Goldman Sachs Made Tens of Billions of Dollars From the Economic collapse of America In Four Easy Steps, Adam Storch is mentioned in the third step (on page 4), as one of the "[e]x-Goldman executives in key positions of power in the US government...." Here's the quote below:

But it is not just Paulson who has had significant influence in Washington.

On October 16th, Adam Storch, a Goldman Sachs vice president, was named managing executive of the SEC's enforcement division. What do you think the odds are that he will crack down hard on Goldman?

In addition, former Goldman Sachs lobbyist Mark Patterson is the chief of staff for current Treasury Secretary Timothy Geithner.

In fact, ex-Goldman employees are seemingly everywhere. According to Vanity Fair, at one G-7 meeting an anonymous source identified at least 24 out of 32 finance officials in attendance as ex-Goldman employees.

The influence of Goldman Sachs even reaches to the White House. Goldman was Barack Obama's number one campaign donor, and its employees gave $981,000 to his campaign.

If you don't think that kind of money does not buy influence then you are delusional.

Goldman Sachs Made Tens of Billions of Dollars From the Economic Collapse of America

Read more information here


Anonymous said...

Sorry to burst your bubble but there's really nothing going on here: Storch was hired into an administrative roll at the SEC. He's the guy who makes sure the staplers are filled.

Joyce said...

I guess the point is that it is truly amazing how many Goldman Sachs guys seem to be in positions where they can influence government policy--in this case, enforcement. I think he did more than make sure the staplers were filled!! Maybe we are both exaggerating his influence or lack of?

Anonymous said...

Who's doing who?

American Monster: Excerpts from The Madoff Tapes

“It’s unbelievable. Goldman … no one has any criminal convictions—the whole new regulatory reform is a joke. The whole government is a Ponzi scheme.”

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