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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, December 2, 2011

Hank Paulson: Goldman Sachs Guy (Part 2)

As Felix Salmon argues--conspiracy theories can become conspiracy truths. Take Hank Paulson. He apparently felt no compunction in sharing information with Goldman Sachs and other Wall Streeters, information from which they could have profited (as presented in the last posting).

Maybe there should be rules against the use of "insider information," not just for members of Congress, but for all those people who gain valuable information from their positions of power within the government including the Treasury Secretary.

Ethical standards need to be spelled out and reinforced.

Turns out the 'Government Sachs' conspiracy theorists were right all along

By Madison Ruppert - prisonplanet

In a shocking article published in Reuters, Felix Salmon confirmed what the so-called conspiracy theorists have said all along: former Secretary of the U.S. Treasury Hank Paulson was giving insider tips to his cronies at Goldman Sachs and other Wall Street titans which directly benefited them.

The article is entitled, “Hank Paulson’s inside jobs,” emphasizing the fact that this wasn’t some one-off lapse of ethics on Paulson’s part, but instead a disturbingly regular practice.

For those who are unaware, Paulson was the CEO and chairman at Goldman Sachs from 1999-2006 and he clearly provided them with actionable information that epitomizes the plague upon our economy, and the greater global economic system, that is crony capitalism.

However, this isn’t quite a brand new revelation given the fact that in October of 2009 Andrew Ross Sorkin exposed that Paulson met with the entire Goldman Sachs board in a hotel suite in Moscow at the end of June 2008.

Salmon covered this at the time, after Sorkin’s book was released, which detailed the meeting held after the Goldman Sachs boys had dinner with Mikhail Gorbachev.

At the time the Treasury chief of staff Jim Wilkinson told Goldman Sachs chief of staff John Rogers, “Let’s keep this quiet,” indicating that despite the fact that the Treasury’s general counsel Bob Hoyt claimed “it wouldn’t run afoul of the ethics guidelines,” they were well aware that wasn’t the case.

Hoyt said that it was acceptable so long as it was solely a “social event”, but unsurprisingly, Paulson didn’t record the so-called “social event” in his official calendar.

It is undeniable that these individuals knew very well what they were doing, and clearly they had no misgivings whatsoever.

During the Moscow meeting Paulson spoke of “the need for the government to have the power to wind down troubled firms, offering a preview of his upcoming speech,” according to Sorkin.

This wasn’t just a friend going over a speech with some old pals, as everyone knows the words of the Treasury Secretary heavily affect global markets almost instantly, just like speeches by the likes of Ben Shalom Bernanke, the Chairman of the Board of Governors of the private Federal Reserve.

Getting this kind of information ahead of time is critical, and through Sorkin’s writing it is clear that Paulson enlightened them as to the situation with Lehman Brothers, giving Goldman Sachs an unfair advantage over those who didn’t happen to have someone on the inside.

Read the rest of the article here


Boycott MSM said...

You CAN'T Be Serious

To sum it up, here's the truth that you will not see reported in your daily newspapers tomorrow or hear on your nightly local news, CNN, CNBC, Bloomberg or MSNBC:  There are less people working as a percentage of the total population, the total number of employed people as a percent of the population continues to decline, it's harder to find a job for those still looking, and those who do find a job are earning less - especially after factoring in inflation.  Sounds a bit different that the rosie headlines reported by the media and promoted on CNBC.

Think about it said...

Farage stated, “As
the Italian credit rating started to slip, the Brussels bosses and the
German Chancellor said, ‘He’s (Berlusconi has) got to go and we want our
man in charge.’  And so Mr. Mario Monti, who was a European
Commissioner for ten years, one of the architects of the euro when it
was introduced, a man who wasn’t even in the Italian Parliament, has
been put in charge and is now the Prime Minister of Italy.”

Democracy has been hijacked, thrown away, in the name of preserving the
euro.  And I mean, frankly, this is how dictatorships start.  I mean
this is absolutely terrifying.

Will Jon C get this treatment? said...

Yasha Levine Released From Jail, Exposes LAPD’s Appalling Treatment Of Detained Occupy La Protesters…

By Yasha Levin

First off, don’t believe the PR bullshit. There was nothing peaceful or
professional about the LAPD’s attack on Occupy LA–not unless you think
that people peacefully protesting against the power of the financial
oligarchy deserve to be treated the way I saw Russian cops treating the
protesters in Moscow and St. Petersburg who were demonstrating against
the oligarchy under Putin and Yeltsin, before we at The eXiled all got
tossed out in 2008. Back then, everyone in the West protested and
criticized the way the Russian cops brutally snuffed out dissent, myself
included. Now I’m in America, at a demonstration, watching exactly the
same brutal crackdown…

Hes a crony said...

A Powerful Interview with Ann Barnhardt

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