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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

Wednesday, April 13, 2011

Spitzer's Interview with William Cohan on Goldman Sachs

It is interesting to note that "conflict of interest" has become the way to do business as far as Goldman Sachs is concerned. The video points out that nothing has changed on Wall Street since the financial collapse. The rules for governing a new financial system have yet to be put into place.

You can find the video here
Transcripts can be found here


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