GoldmanSachs666 Message Board

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

Tuesday, December 11, 2012

Goldman Sachs: Crasher of Economies

"Dean Baker is the co-director of the Center for Economic and Policy Research (CEPR)."  Below is an excerpt on what he thinks about those who caused the financial meltdown:
Who Really Crashed the Economy?
By Dean Baker - Counterpunch
. . . .
In case it’s necessary to remind people, our economy plunged due to the collapse of a Wall Street-fueled housing bubble. The loss of demand from the collapse of the housing bubble both led to a jump in the unemployment rate from which we have still not fully recovered and also the large deficits of the last five years.
. . . .
Last week, many people might have seen Lloyd Blankfein, the CEO of Goldman Sachs, talking about the need to cut Social Security benefits and raise the retirement age. The last time that Mr. Blankfein was very visible in policy debates he was desperately seeking a bailout for Goldman Sachs which was facing a bank run that pushed the company to the edge of bankruptcy.
It was granted special protection from the Federal Reserve Board and the Federal Deposit Insurance Corporation. This protection, coupled with tens of billions of dollars in loans at below market interest rates allowed Goldman Sachs to regain its health. Now its CEO wants to cut our Social Security.

An even more amazing apparition in this story is former Federal Reserve Board Chairman Alan Greenspan. More than anyone in the whole country, Greenspan deserves blame for the economic downturn. As the bubble was growing to ever more dangerous levels, Greenspan was cheering it on, insisting that there was no bubble, and that even if there was a housing bubble its collapse would pose no special problem for the economy.

Read the rest of the article here


LiberatedCit said...

Just doing Gods Work I still can't believe he said that

Goldman Says Due Diligence ‘Not Our Job’ in Dragon Sale

LiberatedCit said...

p.s. on Social Security

Interesting to note our government owes S.S. almost $2.7 TrillionThe TRUTH About Who Really Owns All Of America's DebtsnipSocial Security Trust Fund
Total Holdings of US Treasuries: $2.67 trillionPercent of US Debt that they own: 19% btw is the one who allowed SS to be borrowed from in the first place! Consumer Debt At Record $2.7 Trillion why is this interesting read this and you will seeSocial Security is not going broke Great American Retirement Scam: Why The Wealthiest CEO's In America Want To Take Away Your Social Security the top 1% of the 1% like the bailed out warren buffoon use loopholes so if they do raise the taxes instead of closing the loopholes it will be what's left of the middle class that suffers again.John Boehner: Raise Taxes on the Rich On Tax Cuts: President Rejects Republican Plan To Close Loopholes Payers With Income of Only $30,000 Face Annual Tax Hikes of $1,500 Class--Not the Rich or the Poor--Pay Majority of Federal Taxes, Says CBO Data Buffett Saves Billions On His Tax Return Warren Buffett's GiftThe foundation must continue to satisfy the legal requirements qualifying Warren’s gift as charitable, exempt from gift or other taxes. Buffett Is A PunksnipMeanwhile, Buffett has given each of his kids a charitable foundation with billions each to manage. If a foundation has $3bb in it, then something like $90mm can go to salaries.’s Betrayal (Buffett firms got $95 billion of bailout cash)

LiberatedCit said...

Joyce I just figured out how to edit on your site I think they should all work now and be easier to read. Sorry about that. Great site if you ever need any info or help let me know.

Post a Comment