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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

Tuesday, June 25, 2013

Letter #4 to Goldman Sachs's Lloyd Blankfein

In this book of letters written by ordinary people affected by the fallout from the financial crisis is a chapter devoted to Goldman Sachs starting on page 91.

The fourth letter is from page 95 in The Trouble is the Banks:  Letters to Wall Street, edited by Mark Greif, Dayna Tortorici, Kathleen French, Emma Janaskie and Nick Werle, printed in paperback edition by n +1 Research Branch Small Books Series #4, 2012, New York, NY.

Here is letter #4:
An Opportunity

To:  Lloyd C. Blankfein, Goldman Sachs

Dear Mr. Blankfein,

    We are writing to you to interest you in a fantastic new opportunity for you and your loved ones.  We are offering you the once in a lifetime opportunity to refinance all of your many homes and/or jets for the wealth--oops, did I say wealth--equity that you are holding in them.

    Did you know that the property you bought for millions is actually worth gazillions of dollars under this plan?  Yes!  Gazillions!  With our excellent and trustworthy panel of advisors we can help you truly capitalize on your investments and really make the most of what life has to offer.

    What we do is:  take the money you "earned" during those fantastic boom years, and invest it in schools, hospitals, housing and jobs for the poor, educate feed and clothe people before their brief yet worthy lives extinguish.

    There really is nothing to lose from your side:  just take the money backed by the assets of the houses, jets, boats and jewelry, sign your name, and we can provide you with short-term aspirations!  It really is that simple.  And don't take our word for it, talk to many of our other customers in the 1% base range.  Plenty of satisfaction all round!

With Such Sincerely Tepid Regards,

OWS Refinancing


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