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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, December 6, 2012

Goldman Sachs: You Are Occupied!

It can be said that Occupy Wall Street has moved into phase two after having organized mass non-violent protests in 2011.  Occupy is now setting its sights on distinct areas; for example, Occupy the SEC has sent letters to the SEC, FDIC, OCC and Federal Reserve regarding the Volcker Rule; they have commented on the JOBS Act; they sent a letter to Mary Shapiro at the SEC regarding LIBOR scandals; they sent commentary and questions to the House Banking Services Committee regarding the billions lost by Jamie Dimon at JP Morgan; and they are planning many more actions.

This letter-writing campaign is very important because it is sometimes the only alternate viewpoint given to the regulators regarding the new rules needed for a healthy financial system.

Then there is Occupy Sandy (and Occupy Goldman Sachs) which is helping with the relief efforts after the hurricane in New York and at the same time keeping an eye on Blankfein of Goldman Sachs infamy:

Goldman Sachs Is Occupied
By Occupy Wall Street -
Occupy Goldman Sachs 

On October seventeenth (O17), a group of about 10 occupiers gathered outside 15 Central Park West, the address of Goldman Sachs CEO Lloyd Blankfein’s multi-million dollar condo. Occupy Goldman Sachs was born. In the model of sleepful protests, they set up camp across from the building’s main gate. They brought sleeping bags, signs, food, cameras...and have not left the area since.

It’s now been over 40 days, and they are going strong. They have bounced around the building, to keep the NYPD on their toes and avoid bad weather. Arrests have been minimal and outreach has been phenomenal. The support from the neighborhood has been extremely positive, people are constantly stopping by with words of support and encouragement.

They decided as a unit to hold the space through Hurricane Sandy, and immediately after, people from the site were out in the many areas affected by the storm doing relief work. The site now doubles as an Occupy Sandy info hub, providing information on how to volunteer and donate to the high levels of foot traffic. The main location is at the corner of 61st St. and Broadway, deliciously across from a Chase Bank.

See the entire article here


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