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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

Monday, August 22, 2011

Sometimes We Just Need To Rant At Goldman Sachs

This is one of those times. We need a really good rant and here are two. First Yves Smith posted a video that caused some negative responses from viewers to which Yves Smith replied:

Yves Smith says:

I clearly said I wasn’t endorsing this blanket condemnation. That is your projection. Zeitgeist watch items are germane. You ignore cultural changes in mood at your peril.

I had someone in another thread get very upset because this reminded him of Nazi propaganda. This was the response from someone else on the same thread:

I don’t agree with your propaganda analogy. I’m Jewish, and a German Jew by heritage. I am sure I have a few scarred, broken branches on my family tree from lives cut short gratis gas chambers disguised as “work camps”. The spinning coin and the light globe in that video are captivating and irresistible but ONLY to those who are already filled with deep alarm, anger, and concern….


If comparisons are to be made to the Nazi Germany times, here you go; there are millions of suffering, trapped, frightened, desperate, dispossessed, homeless families who are marginalized, stigmatized, and blamed for the downfall of one’s community, neighborhood, & country. They have had seen their businesses crushed, their access to credit evaporated, their ability to function economically damaged by a label (credit score vs gold star sleeve patch). They believe that sanity and reason surely will descend soon, once those with the power and position to intervene understand the dire circumstances. Most believe their own family, if they can simply hang on & do the right thing/stay quiet/empty 401k & savings/fill out the same loss mitigation documents hundreds of times, then they will be saved from the unspeakable fate that has befallen their friends, neighbors, & colleagues. They live in fear of “property preservation teams” taking photos of their homes and even changing the locks and tossing their possessions out onto the street. They know there is only danger when one reports these incidents to those tasked with protecting the citizens of the state. They know law enforcement and the judiciary is fully biased against them. They know documents will be forged to “prove” they are liars and worse evil debtors who believed the stated & implicit guarantees of a workable refi or modification, but are now deemed unfit for the “luxuries” they once enjoyed, being safe, employable, providing for one’s children, and being secure in one’s home.


You can read more about the video here

Here is the video and you can make your own judgement:

Video: The Bankers as the Enemy of Humanity
Post from Karl Denninger's site by Yves Smith - naked capitalism

You can view the video here

. . . . . . . . . . . . . . . . . . .

Second, we have Max Keiser's interview with William K. Black about the looting of the banks, which, of course, includes Goldman Sachs. The second half of the video is very pertinent.

Keiser Report: Banking Looters

You can view this video here


Anonymous said...

Parking ticket problem?

Goldman Sachs CEO hires high-profile defense attorney

Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter.,0,7664505.story

Anonymous said...

Monday, August 22, 2011
The Devil Is In The Details...Speaking Of The Devil

There's no honor among thieves and when rats are trapped in the corner, they fight back. Lloyd Blankfein just removed from "services available" one of the best DC-insider-connected defense attorneys, indicating some real shit could be hitting the fan at Goldman Sachs. This particular lawyer - who must be a serious piece of work if he's willing to prostitute his services defending servants of the devil - worked out deals for some real beauts: Bernie Ebbers of WorldCom, Enron's chief accountant and Roman Polanski. The speculation ranges from Justice Department inquiries into Goldman's highly fraudulent role in the mortgage market meltdown to likelihood that Blankfein and Goldman are both under heavy legal siege on both the civil and criminal fronts. Goldman stock plunged another 2.5% after the close, when that news report was released (conveniently) and is down roughly 40% year-to-date.

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