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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

Tuesday, March 15, 2011

Goldman Sachs--The Legacy

It is time to have a laugh or two at Goldman Sachs's expense. This video was obtained at The Daily Bail and was created by

Now that we can be very sure that the Wall Street firms that brought us "How to Create a Recession Through MBSs" will never be prosecuted, then we should be able to laugh our fool heads off.

Goldman Sachs The Movie By Civil War Creator Ken Burns
by Josh Lipton - Minyanville (on The Daily Bail)

Goldman Sachs Documentary, a history of the company! Goldman Sachs has taken a beating as of late, so in order to somewhat clean up their image they've decided to create a documentary. Ken Burns, famous for his PBS series "The Civil War" will shoot the documentary. Goldman has opted to have complete editorial control of the video through it's marketing department. Josh Lipton was able to get a leaked copy of the video.

The video talks about Bear Stearns, Merrill Lynch, and the Lehman Brothers fall. It also talks of Lloyd Blankfein and Goldman Sachs being able to pay back their debts and reward employees with bonuses. In April 2010, the SEC sued Goldman Sachs, but the lawsuit was quickly thrown out after thousands of Goldman supporters from all over the globe stormed the SEC demanding that they leave the company alone.

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