Dear Mr. Lenzner
Regarding your piece in Forbes called I'm Tired Of All The Exaggerated Lies About Goldman Sachs, I would like to just talk about the lies alone. Obviously, you need to do more to Goldman Sachs than puncture "their pretenses and shameful acts." It is a fact that GS commits, and has committed, unethical, immoral and fraudulent acts. Greed, arrogance and entitlements to riches have become the norm for Goldman Sachs, but that does not justify their pursuits when they harm others.
Here is a list of Lenzner's ideas and suggested counteractions:
1. Paulson acted on the "prevailing mood in the nation" and thus Lehman was not bailed out.
Counteraction: I don't think Paulson had a clue what the prevailing mood was as he didn't even think there was a problem until the problem hit him in the face. In any case, no one knows for sure what was on Paulson's mind and others disagree with Lenzner here.
2. The bailout of AIG was not motivated by trying to make Goldman Sachs whole:
Counteraction: Well, that is hard to believe when you read that Paulson conferred with Blankfein before deciding on the AIG bailout. See here and here
3. Goldman Sachs did not need the bailout in 2008.
Counteraction: Perhaps Buffett's $5 billion prevented Goldman Sachs from going bankrupt or perhaps Goldman Sachs became a Bank Holding Company in order to take advantage of money from the Federal Reserve which would have prevented it from becoming insolvent. It doesn't matter which action prevented GS from becoming insolvent. See here.
4. Goldman is not interested in taking over Europe.
Counteraction: As the Levin/Coburn report pointed out, Goldman Sachs does not always look after their clients when a bit of profit is to be made from them. As they have shown in the past, Goldman does not care about their "largest competitiors, counterparties, clients or creditors;" they care about profits, not people. The big thing is that Goldman Sachs is TBTF and can depend on government to bail them out no matter what they do. See here.
Goldman Sachs is not a conspiracy; it is a fact that Goldman is everywhere. See here.
5. Goldman's derivatives are always hedged.
Counteraction: Yes, Goldman's derivatives are created to their advantage and to the detriment of the world. See here.
We have been documenting and gathering information for this site from all over the Internet. Economists, writers, journalists, consultants to financial firms, commentators, politicians, humorists, etc., have come forward and told the many truths about Goldman Sachs. You can reference them if you wish. They include William K. Black, Janet Tavakoli, Yves Smith, Ellen Brown, William D. Cohan, Barry Ritholtz, Robert Scheer, Marshall Auerback, Chris Hedges, James Galbraith, Alan Grayson, Bernie Sanders, Carl Levin, Tom Coburn, Greg Palast, Joseph Stiglitz, Andy Borowitz, and Simon Johnson and a host of others.
Mr. Lenzner, there are a lot of people who disagree with you about Goldman Sachs.
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