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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

Saturday, August 20, 2011

More on Cover Ups and Fraud At The Highest Levels of Government

A reader asked how history will record these times.  I believe history will say that the past few decades - and especially the decades of 2000 to 2011 - were America's darkest and MOST CORRUPT.  Corruption in government is rampant, obvious and evident.

Here now a few links provided us by readers that need attention.

Keith Oberman and Matt Taibbi.  Not sure of the date but worth the 6+ minute watch and listen.

ll I see is self serving corruption, greed, stupidity, short sightedness and outright thievery by the parasites and leeches that would have us look upon them as our grand leaders and paragons of commerce.

Dear Fellow American...

Dear Fellow American,
I am writing this letter to you not as a liberal, not as a conservative; not as a lefty, not as a righty; not as a Democrat, not as a Republican, not as a Tea Party populist; not as a Christian, not as a Buddist, not as a Moslem, not as an atheist; not as a socialist, a communist and certainly not as a bailout capitalist.
I am writing to you as just another ordinary American.
Read it all from Zero here  Thanks reader for submitting this in your comment.
It was almost three years ago since I wrote a comment on how the pension Ponzi scheme dwarfs the Madoff scam. Watch the interview below and pay close attention to what Markopolos is saying. "Someone has to chase the bad guys" or else they will loot trillions in pensions. 
Interview with Harry Markopolis.  Read the entire article from here
Again, thanks to a reader who provided this link in their comment.


 Larry's Corner

Folks, we have a problem!

While the initial effort of this blog was to expose Goldman Sachs - which I believe we have done a fairly good job of - Goldman Sachs as it turns out is just a part of the problem.  Granted, it may be a large part of the problem but the problem itself has taken on its own life.

For all the venomous acts of Goldman Sachs - their current and past leaders along with all of those revolving in and out of governments - our government itself has engaged in activity illegal, unethical and most of all UN American.  Gov. Perry of Texas called some of the actions of Fed Chairman Bernanke treasonous which solicited many unkind comments about his own character.  While I will openly admit I am not a fan of Gov. Perry, his statement was not far from the truth.  Many actions by many members of our "elite" class - political and private - seem to be treasonous.  Many actions of the Bush Administration and many in the Obama Administration can be considered treasonous.  

To harsh a word you might say?  Well, let's take a look at Miriam Webster's definition of Treason.

Definition of here for link to Webster's definition...

1: the betrayal of a trust : treachery
2: the offense of attempting by overt acts to overthrow the government of the state to which the offender owes allegiance or to kill or personally injure the sovereign or the sovereign's family
If treason is the "betrayal of trust" then certainly many of our politicians exhibit this trait.  If "attempting b overt acts to overthrow the government of the state to which the offender owes allegiance is treason then again, many of our political leaders and banksters fall into this category.

By attempting to control us all, by attempting to transfer all the wealth to a select few and by attempting to cover up their attempts (crimes), I would say that these offenders are not exhibiting the "allegiance" to OUR country they politically are sworn to do or for those in business are morally obligated to do.

If synonyms for treason are "backstabbing", "disloyalty", "double cross", "falseness", "sellout", "treashery" and "betrayal", then certainly many in government - past and present - and those in business with companies like Goldman Sachs, JP Morgan/Chase, Bank of America, Wells Fargo - to name just a few - certainly fit the categories.

We must just look around to see how these acts adversely affect all of us.  How we, the middle class are being eliminated, our wealth transferred to those in the new elite upper class.  How those in the lower class - growing daily - are being enslaved, starved and made homeless.  Servants in waiting for those that have. 

We are witnessing the destruction of our Constitutional Republic along with a world wide defined effort to control all of the civilized world - A New World Order - as decried by President, King George Bush the "First".

Wake up America.  We can no longer stand idly by and watch this happen.  No, I do not advocate violence in revolt of what is happening but I do advocate revolt by the use of our voting rights and not voting any incumbent back into office.  We need a new slate in our government = people who love this country and are willing to defend their oaths of office to defend our Constitution and the rights of all that we are entitled to.

Let's make Congress a part time job.  limit terms to 4 years.  Limit the Presidency to one 6 year term and eliminate the need to spend more time on re election then on governing as representatives of the people.

Folks, we truly need CHANGE.

Together we can make a difference! 
"With Liberty and JUSTICE for ALL"

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Anonymous said...

Instead of focusing on the Cover Ups and Fraud At The Highest Levels of Government/Business the media reverses the tables and calls the poor parasites.


Jon Stewart: The Poor's Free Ride Is Over

Every major network anchor should get their due kharma.

Anonymous said...

‘We will restore a sense of morality’

Several hundred years ago, celebrated English philosopher John Locke astutely surmised that “when the social contract is broken, there must be revolution.”
The social contract has indeed been broken – by the corporate capitalist class and their political puppets – and, increasingly over the coming weeks, months and years, there must and will be global revolution – to take back from the socioeconomic elite what they have stolen from the masses.
The sense of morality that needs to be restored is among the corporate capitalist class — the billionaires and mega-millionaires — and their political lackeys.

Anonymous said...


The money men and their cronies directed the peace dividend into their own pockets. And now that hard times have come, they wish to not only keep their gains but multiply them, and visit hardships on the very people whom they have defrauded. Their greed and hypocrisy knows no bounds.

"Adversity makes men; prosperity makes monsters."

Victor Hugo

Anonymous said...

You want to stop the privilege?...the fraud?

Then go back to the gold standard.

A Gold Standard Dollar is the People's Money
Wednesday, August 03, 2011
95% of Americans earn a living with labor, wages and salaries to save for special purposes such as retirement, education and the costs of living. Having a dollar with stable purchasing power, like gold-backed currency, helps ordinary people and diminishes the advantage of the speculator and banker class in America.

think about it...their wealth is a function of derivative they expand their wealth...your wealth diminishes!

The games they play...
FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields!

Anonymous said...

Scroll down...find...

The PhD Standard:

“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” John Maynard Keynes

This week, Federal Reserve “money printing” became a focal point of American political discourse. Across the Atlantic, a worsening banking crisis failed to diminish German resolve against backing the issuance of “eurobonds.” Many of us have read and pondered Keynes’s famous quote on debauching the currency so often we’re rather numb to it. But in light of recent developments, it’s worth reminding readers that history is unequivocal: The soundness of money – monetary stability – is fundamental to the well-being of both the economy and society. The myriad consequences of prolonged monetary instability are these days increasingly difficult to disregard.

Anonymous said...

Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans

“These are all whopping numbers,” said Robert Litan, a former Justice Department official who in the 1990s served on a commission probing the causes of the savings and loan crisis. “You’re talking about the aristocracy of American finance going down the tubes without the federal money.”

Anonymous said...

The best summary of this ongoing collusion between the Fed and Wall Street, in which it once again for the nth time becomes clear that all the Fed cars about is making sure its banking masters are never impaired, is from the article itself: "Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret, avoiding the stigma of weakness." And there you have it: everything that come out of Wall Street is and has always been a lie: either courtesy of 30 years of great interest rate moderation, in which only cheap money adds to banks' top and bottom lines, or due to the Fed making sure the same banks never suffer a dollar loss when central planning fails, such as it does increasingly often lately (and forget about 10(b)-5 violation charges coming from the corrupt regulators: after all they are all in bed together).

Anonymous said...

Monday, August 22, 2011
Corrupt Obama Administration Pressuring New York Attorney General to Support Mortgage Whitewash

It is high time to describe the Obama Administration by its proper name: corrupt.

Admittedly, corruption among our elites generally and in Washington in particular has become so widespread and blatant as to fall into the “dog bites man” category. But the nauseating gap between the Administration’s propaganda and the many and varied ways it sells out average Americans on behalf of its favored backers, in this case the too big to fail banks, has become so noisome that it has become impossible to ignore the fetid smell.

Anonymous said...

Social Security and What You Should Know!
Monday, August 22, 2011 – by Adrian Krieg

What the politicians refuse to tell you is that they looted the entire trust fund for among other things paying themselves $178,000 a year in salary, and that their own total individual benefit and payroll packages cost the taxpayers an average of $3.5 million per legislator per year. Of course, there are anomalies like Nancy Pelosi and Harry Reid, whose packages are vastly greater.

Fire them all. We need a new slate!

Anonymous said...

GAO Fail: Phony Fed Audit Fails to Reveal BlackRock & Jamie Dimon's Dirty Secret

We recently revealed that the Government "Accountability" Office audit of the Fed's emergency practices during the financial panic (which caused so much consternation even in watered down form) was a complete whitewash. In its review of the Fed's outsourcing practices, the GAO failed to mention the most damaging and suspicious sole-source (no bid) contract awarded to BlackRock, which was for managing the New York Fed's toxic Bear Stearns portfolio, otherwise known as Maiden Lane. This contract would generate $108,000,000 in fees and was one of the largest awarded during the bailout period, but it might also have saved JP Morgan $1.1 billion in losses from its Bear Stearns acquisition.

Most of the contracts, including 8 of the 10 highest-value contracts, were awarded noncompetitively due to exigent circumstances as permitted under FRBNY’s acquisition policies.
In short, the approval of the $108 million BlackRock contract had to be approved by both a senior officer at the New York Fed and its Board of Directors due to the size of the contract. And just who comprised the board at the time?
Unfortunately, the GAO's work product is not subject to public request, but it can be compelled to be released by Congress. The next time Congress decides to subpoena the Fed, or Bloomberg decides to file a FOIA, they might request the acquisition file for the BlackRock Maiden Lane contract containing the officer approval and justification notes, as well as the minutes of the director meeting with Friedman, Dimon, Immelt et al.

Anonymous said...

Call for Resignation: Kathryn S. Wylde, NY Fed

The NYT reports that the White House and the NY Fed are pressuring NYS Attorney General Eric T. Schneiderman.

Given the sadly misguided history of both the Obama administration and the NY Fed (led by the President Tim Geithneir, now Treasury Secretary) when it comes to Bailouts, this is not a huge surprise.

But what is surprising is the utterly inappropriate behavior of Kathryn S. Wylde. She is not only a member of the board of the Federal Reserve Bank of New York, but occupies the seat supposedly reserved for the representing the public.

Anonymous said...

Bailout, Bankruptcy, and Breadlines... Just The Start

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