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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

Thursday, July 12, 2012

The Contributions of Goldmans Sachs to the Financial Crisis

It is important to periodically remind ourselves of the role that banks, including Goldman Sachs, played in bringing us the Great Recession.  Market Watch 666 has posted the full video of Inside Job by Charles Ferguson.  It is well worth your time to watch this video and see how corrupt the banks, the ratings agencies, the regulators, the politicians and some economists are.

I cannot embed the video which is found here


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