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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, January 30, 2013

Goldman Sachs Receives the "Shame Award"

Goldman Sachs has received its most apt award yet, the Shame Award "for particularly glaring cases of companies' greed for profit. . ."

Goldman Sachs, Shell 'Named and Shamed' in Public Eye 'Award'
Public Eye Shame Awards announced outside World Economic Forum in Davos
By Jacob Chamberlain - Common Dreams 
 As leaders from the world's top banks and corporations continue to meet this week at the World Economic Forum, protesters also gathered in Davos to announce this year's Public Eye "Shame Awards." And the winners are...Goldman Sachs and Shell.

  A policeman stands guard on the roof of the Congress Hotel during the World Economic Forum Annual Meeting 2013 on January 23, 2013 at the Swiss resort of Davos. (Agence France-Presse) The 'honors,' awarded to the two WEF member corporations "for particularly glaring cases of companies' greed for profit and environmental sins," were announced at the annual award ceremony hosted by campaign groups Greenpeace (Switzerland) and the Berne Declaration.

The ceremony was held "within eyeshot" of the WEF summit—a place "where the rich and powerful will ponder the planet's future."

Goldman Sachs "is a key player in financially driven globalization, which pays for profits of a few with exploding inequality and the impoverishment of broad strata," the groups said in a joint statement.

Read the rest of the article here


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