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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, May 29, 2011

Goldman Sachs: Fraud and Manipulation

The reward for cheating the financial system and manipulating the markets is money--bundles of money, for example, from us to Goldman Sachs. People who are moral leave the cheating environment and the cheaters prosper, thinking of themselves as pure geniuses. That is why it is important to prosecute cheaters so that honest people can run the system. Laws that allow unethcial practices should be "deregulated" including commodity speculation which, apparently, is not illegal, but certainly morally reprehensible. Goldman Sachs is, by nature, speculative.

You can view the video here

You can view the video here


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