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

Wednesday, June 19, 2013

Goldman Sachs Reveals How It "Serves" the Public

Sometimes it is instructive to go back over articles on Goldman Sachs to see how writers viewed Goldman Sachs, say, in 2007 before the worst of the financial crisis hit Main Street.

All the Goldman potential caitiffs are mentioned in the article, some named, some not:  Henry Paulson, Robert Rubin, Mark Carney, Jon Corzine, Mario Draghi, Robert Zoellick, and so on.  When a bank engages in fraud and when it profits from that fraud, then it is no surprise that it remains standing when others fail.  Goldman is still standing while it watches its works continuously being revealed in the hardships and foreclosures of ordinary people and in the pension deficits and unemployment that it has blessed the world with:
Goldman the only man standing in US subprime crisis
By David Hirst - Planet Wall Street, November 22, 2007
. . . .
 Another possibility must at least be mentioned. The New York Times reported that "late last year" Goldman's chief financial officer, David Viniar, called a "mortgage risk" meeting. After reviewing the portfolio with other executives, his message was clear: the bank should reduce its stockpile of mortgages in mortgage-related securities and buy expensive insurance. Of course, the financial stability of those insurance companies is now in doubt, but that's another story.

And fabulous profits have been banked by shorting the banks and mortgage companies, not to mention the builders. Already we have seen losses of up to $US55 a share in a single company. Merrill on June 15 stood at $US90 and change. Goldman stands to build on its $US220-plus value.

Read the article here



Post a Comment