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".[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 1, 2011

Goldman Sachs's Abusive Practices

While we are waiting patiently for the DoJ to prosecute more than just the small fry who helped bring about the financial crisis in 2008 (when they should have been going after the big fish, such as Goldman Sachs, on Wall Street who with their unethical practices committed fraud and perjury), we can watch Max Keiser unwind on the topic. We need an occasional emotional release and here it is:

You can view the video here


Anonymous said...

The Global Economy’s Corporate Crime Wave
Jeffrey D. Sachs

NEW YORK – The world is drowning in corporate fraud, and the problems are probably greatest in rich countries – those with supposedly “good governance.” Poor-country governments probably accept more bribes and commit more offenses, but it is rich countries that host the global companies that carry out the largest offenses. Money talks, and it is corrupting politics and markets all over the world.

Hardly a day passes without a new story of malfeasance. Every Wall Street firm has paid significant fines during the past decade for phony accounting, insider trading, securities fraud, Ponzi schemes, or outright embezzlement by CEOs. A massive insider-trading ring is currently on trial in New York, and has implicated some leading financial-industry figures. And it follows a series of fines paid by America’s biggest investment banks to settle charges of various securities violations.

Joyce said...

Thanks for this link. There seems to be more and more indignation over how the banks got away with breaking the financial system. Let's hope that investigations and prosecutions will soon follow.

Anonymous said...

You can pass out while holding your careful!

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