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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

Sunday, March 18, 2012

Goldman Sachs and Spring Stirrings of Occupy Wall Street

With warm weather we see the beginning of Occupy protests.  Greg Smith's resignation letter reminded the world about the unethical role played by Goldman Sachs in bringing about the financial crisis:

'As always, the protesters focused on a variety of concerns, but for Tom Hagan, his sights were on the giants of finance.
 '"Wall Street did some terrible things, especially Goldman Sachs, but all of them. Everyone from the banks to the rating agencies, they all knew they were doing wrong. ... But they did it anyway. Because the money was too big," he said.'  (ABC News).

Occupy Protest Anniversary Ends With Police Sweep
By Christine Salazar - (AP) ABC News

Dozens of police officers cleared the park where the Occupy movement was born six months ago and made several arrests after hundreds of protesters returned in an anniversary observance and defiantly resisted calls to clear out.

Some demonstrators locked arms and sat down in the middle of Zuccotti Park near Wall Street after police announced on a bullhorn at around 11:30 p.m. Saturday that the park was closed. Officers then poured into the park, forcing most of the crowd out and surrounding a small group that stayed behind. Police formed a human ring around the park to keep protesters out.

Several people were arrested, police said. An unused public transit bus was brought in to cart away about a dozen demonstrators in plastic handcuffs. One female under arrest had difficulty breathing and was taken away in an ambulance to be treated.

For hours, the demonstrators had been chanting and holding impromptu meetings in the park to celebrate the anniversary of the movement that has brought attention to economic inequality, as police mainly kept their distance.

Read the full article here 


stockshock said...

This story talks about people stepping up and telling the truth. The next wave of truth telling needs to come from TV news as they have been covering up for the Banks and perhaps the biggest story to ever be told has now come out. A new documentary called The Wall Street Conspiracy, which was just released March 1st, 2012 in a NYC movie screening. The movie shows Lawyers and experts, thru discovery getting the evidence on Goldman Sachs and brokerage houses selling FAKE stock into pension funds. Let me repeat that. Goldman Sachs sold COUNTERFEIT STOCK knowingly into pension funds to rob its clients. It is all shown in this powerful new documentary How is this not all over TV news right now? When is the news media going to do its job and report this story as these experts have done the media's job and its investigative reporting. When will the News Media report this huge story or is the new media going to continue to keep taking the banks money to remain silent.RichardSiriusNews

Joyce R said...

 Thank you for the link in your comment.  I think the conspiracy has enveloped both the justice system and the government.  There will not be either an investigation or prosecution for what the banks have done to the financial system and there will be no restitution for the unequal distribution of wealth to the rich from the working and middle class.

GS666 said...

Joyce, I could not agree with you more.


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