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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, November 28, 2012

Goldman Sachs, Goldamn Sachs, Godamn Sachs

More on why Congress should Never listen to the likes of Goldman Sachs's Lloyd Blankfein:

Goldman Sachs Bailout King Blankfein to Powwow with House Republicans, While Obama Rules Out Social Security For Now
By Taylor Marsh -

GOLDMAN SACHS bailout king CEO Lloyd Blankfein is headed to Capitol Hill to push his ideas for the fiscal
cliffscheme in person.

The guy who advised that the Social Security “retirement age has to be changed” in an interview with Scott Pelley of 60 Minutes recently, is headed to a meeting with House Republicans on the fiscal cliff scheme, the marketing push to scare politicians into carving up entitlements, including Social Security.
Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd Blankfein is among the executives scheduled to meet with U.S. House Republican leaders on the so- called “fiscal cliff,” according to a House aide and another person familiar with the plans. House Speaker John Boehner is scheduled to meet with a group of CEOs pressing for a solution to the looming tax increases and spending cuts on Nov. 28 in the Capitol building. [Bloomberg]
This is a man worth hundreds of millions of dollars who thinks that the working class need to work a little longer, even though they don’t receive Social Security as long as men like Mr. Blankfein do, because they don’t live as long, due to the back wrenching work that is their livelihood.
“Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career,” Blankfein said. “So there will be things that, you know — the retirement age has to be changed. Maybe some of the benefits have to be affected. Maybe some of the inflation adjustments have to be revised.” [Huffington Post]
What Blankfein and his 1% club really also want to avert is the lifting of the Social Security income cap, which would cost him and his friends millions of dollars, while extending the already financially viable federal entitlement program decades.
This is another effort by the same Wall Street fat cats who sunk our economy in the first place to try and push the grand bargain, while sticking it to the working class.

Read the whole article here


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