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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

Wednesday, August 8, 2012

The Revolving Door of Goldman Sachs is Alive and Well in Europe

The Prague Daily Monitor has an article (Czech Position:  Presidential candidate Dlouhý leaves Goldman Sachs) about one of the candidates running for the presidency in Czechoslovakia.  Vladimir Dlouhý is ending his relationship with Goldman, according to the article.  He said he is proud to belong to the group of former Goldman Sachs politicians that includes Mario Monti and Mario Draghi.

But leaving behind Goldman does not guarantee that the bank's standards of ethical conduct or their striving for a certain kind of political power will necessarily change.

With any luck Mr. Dlouhý will not be elected.

See the full story here


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