It is important to periodically remind ourselves (and those who already know that the present financial meltdown in the US was perpetrated by the banks who took advantage of a deregulated system) and to introduce others to the reality of the present crisis.
Goldman Sachs was used as a study case in one investigations of the financial crisis--the Senate Subcommittee led by Levin and Coburn--and the banks' role was described by the FCIC in its study of the causes of the financial crisis.
Below is a video summary from the Naked Capitalism site:
See a mini-review and comments and view the video here
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". 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