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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

Tuesday, January 24, 2012

Those Reckless Bankers, Goldman Sachs!

It is such a pleasure to see that Bill Moyers is back after his brief retirement. He is a voice of reason in a world of financial insanity and brings a calm and resolute eye to the problems facing the American economy.

Below, he interviews Gretchen Morgenson on what she found out while investigating the financial crisis of 2008 and what we have to look forward to as a result.

Gretchen Morgenson on Corporate Clout in Washington
Interview of Gretchen Morgenson by Bill Moyers

Gretchen Morgenson on Industry Influence from on Vimeo.

You can see the video and read the full transcript here


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