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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

Friday, November 18, 2011

Goldman Sachs: Next, Masters of the Universe?

We should all be very afraid of what is happening in Europe what with unelected leaders in two countries and the growing influence of Goldman Sachs. Stephen Foley has an article in The Independent discussing the Goldman Sachs men who have had influence on the economy of Europe. See the map at the beginning of the article.
What price the new democracy? Goldman Sachs conquers Europe
By Stephen Foley - The Independent

The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By replacing the scandal-surfing Silvio Berlusconi, Italy has dislodged the undislodgeable. By imposing rule by unelected technocrats, it has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic.

This is the most remarkable thing of all: a giant leap forward for, or perhaps even the successful culmination of, the Goldman Sachs Project.

It is not just Mr Monti. The European Central Bank, another crucial player in the sovereign debt drama, is under ex-Goldman management, and the investment bank's alumni hold sway in the corridors of power in almost every European nation, as they have done in the US throughout the financial crisis. Until Wednesday, the International Monetary Fund's European division was also run by a Goldman man, Antonio Borges, who just resigned for personal reasons.

Even before the upheaval in Italy, there was no sign of Goldman Sachs living down its nickname as "the Vampire Squid", and now that its tentacles reach to the top of the eurozone, sceptical voices are raising questions over its influence. The political decisions taken in the coming weeks will determine if the eurozone can and will pay its debts – and Goldman's interests are intricately tied up with the answer to that question.

Simon Johnson, the former International Monetary Fund economist, in his book 13 Bankers, argued that Goldman Sachs and the other large banks had become so close to government in the run-up to the financial crisis that the US was effectively an oligarchy. At least European politicians aren't "bought and paid for" by corporations, as in the US, he says. "Instead what you have in Europe is a shared world-view among the policy elite and the bankers, a shared set of goals and mutual reinforcement of illusions."

This is The Goldman Sachs Project. . . .
Read the rest of the article here


One team said...

Tea Party Leadership Supports Bankster Felonies

How can this continue to happen?  There's only one way: The institutions involved have to be protected by the government.  But the government's job in this instance is to prosecute such actions, not protect those who engage in them.
It is the very protection of these sorts of acts that in fact led to the American Revolution!
Go read that linked Ticker again and understand this folks: The Wall Streeters and lobbyists know that if the common man Tea Partier and Occupy Wall Streeter come together and execute non-violent decisive action -- such as a national general strike until the rule of law is enforced -- their game is over.
what is their "game"?  That's simple: They're robbing you.  Serially,
intentionally, even violently using the force of government to obtain
your property under fraudulent pretense.

Get clean said...

Vaunted GOP ‘Top Tier’ is Reeling

Starts off slow, with the Herman Cain harassment allegations. But the Romney and Perry sections are excellent. And the end is quite good.

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