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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

Sunday, June 16, 2013

Goldman Sachs is Everywhere!

There is a method in the way Goldman Sachs spreads its works:  according to Carney, first they learn, then they earn and then they serve.  Of course, the service is usually in making government policy if at all possible.  Just as Canadians anticipated that Goldman Sachs had left the stage, enter Lynn Patterson to the Bank of Canada theatre.

She is now special advisor to the new governor, Stephen Poloz.  She worked for Merrill Lynch Canada and for Goldman Sachs.

Bank of Canada brings in bond, markets specialist as adviser to Poloz
By Reuters
(Reuters) - The Bank of Canada has appointed former Merrill Lynch executive Lynn Patterson as special adviser to new governor Stephen Poloz, the central bank said on Friday.

Patterson, who stepped down in April as president of Merrill Lynch Canada and worked in bond sales at Goldman Sachs in the 1990s, will serve a two-year term at the central bank as senior representative of financial markets.

"Lynn's expertise will help us better understand market developments and will support our work to make the Canadian and global financial systems safer and more resilient," Poloz, who officially replaced Mark Carney as the bank's governor this week, said in a statement.

Read the article here


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