Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs Takes a Cash Penalty

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Fraud*
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, September 16, 2012

Goldman Sachs Takes a Cash Penalty

It seems that the last bit of justice in the system lies with the individual decisions of judges. Judge Leo Strine describes Goldman's behavior as "furtive" and "troubling." However, Goldman always prefers to pay up rather than fight. Jury justice would be more encouraging.

Goldman at last gets a conflicts comeuppance
By Reynolds Holding - Reuters Breakingviews
. . . .
Faced with the unseemly facts that Goldman owned $4 billion worth of Kinder Morgan while advising El Paso and that one of its bankers also held a $340,000 stake, Delaware Judge Leo Strine meted out his own particular form of justice. He allowed a vote on the acquisition to go forward, despite attempts to stop it, but lambasted Goldman’s behavior as “furtive” and “troubling” and urged shareholders to pursue their lawsuit.

Read the whole article here

2 COMMENTS:

Laser Haas said...: Keep paying attention to my fight against Goldman Sachs, Bain Capital and Mitt Romney.

http://www.dailykos.com/story/2012/09/16/1132577/-Putting-My-wee-little-foot-up-the-Arse-of-Goldman-Sachs-1-Kick-at-a-time; September 16, 2012 at 6:02 PM
JEHR said...: You certainly have to be admired for your tenacity!; September 17, 2012 at 2:47 PM

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