Greed

(Japanese:グリード, Gurīdo) is a greedy Homunculus, most known as Ultimate Shield, as he can change the density of his body to that of the carbon, being weak as graphite or hard as diamond. Like his name, he is very greedy. He also has a habit of flipping people off in the manga.

Manga
Greed, the third Homunculus created by Father (according to Perfect Guide Book 2), apparently abandoned the other Homonculi over 100 years for the start of the series and claims to be around two centuries old. He first appears hiding in the Devil's Nest in Dublith, with his gang of chimera's all of whom he appearently rescued from military experimentation. After learning of the Elric's brothers battle with Scar, he becomes intrigued with the notion that the youngest brother, Alphonse, is an independent soul bound into a suit of armor. Contrary to fact, he believes that existing in this state would make him truely immortal. He sends out his gangs smallest member, the lizard chimera Bido, to confirm his suspicions. Bido locates the brothers, but is discovered and barely escapes the two.

His hopes confirmed, Greed orders the rest of his gang Roa, Dorchet and Martel to capture Alphonse. After a long chase the chimeras capture and bring Al to Greed where he introduces himself and starts questioning Al about his empty armour. After a short conversation, Al synthesizes stone fists to crush Greed. To his shock Greed shrugs the hits off then orders Roa to smash his head to pieces with his hammer. In seconds, Greed rises up with no wounds, explaining that he is, in fact, Homunculus. Some moments later, Izumi Curtis storms in to rescue Alphonse. She quickly gets in a fight and finds herself outmatched by his Ultimate shield. After she is beaten, Alphonse agrees to make a deal with Greed, to stay with him willingly in exchange for information on Soul Attachment. Greed agrees and Izumi leaves Devil's Nest to tell Ed about the deal. Suddenly, Führer King Bradley arrives with Alex Louis Armstrong and an army unit to reclaim Al and elimate the chimera's.

Shortly after, Edward rushes into the Devil's Nest to rescue his brother and confront Greed. Finding him Ed pays no attention to Al and Greed's suggestions about a deal and demands Greed to free Al, saying he wants nothing to do with his plans. Dorchet tries to physically force Ed to agree but gets beaten in seconds. Seeing what Ed is capable of, Greed fights Edward alone. After getting his neck broken, Greed changes to his completely armoured form.

How practically invulnerable to physical harm, Greed seems to gain the upper hand in the fight. Ed however quickly figures how to alchemic proccess behind the Shield (rearranging carbon molecules into a diamond-like form) and nulifies it with his own alchemy. Before the two can finish there battle though, Bradleys army unit storms the Devil's Nest. Greed manages to escape, with Alphonse still in his custody. However, in the sewers below the club, he is met by King Bradley. Not knowing the Fuhrers real identity, Greed orders his gang to dispose of him. In a matter of minutes, Bradley kills all of Greed's gang (except for Bido), before revealing himself as a Homonculus. After repeatedly killing Greed until his Philosophers Stone is almost depleted, Bradley impales Greed with four swords and takes him prisoner.

Shortly after that Greed is brought before Father and the other Homonculi and recognizes them all save Bradley who then reveals himself as Wrath. After gleefully insulting Envy he flippently refuses to rejoin Fathers scheme. Knowing he is too troublesome in his current state Father lower Greed into boiling vat and melts him down into his consistuent Philosophers stone. Greed remains defiant to the end laughing manically and screaming curses at everyone present.

Ling is shortly transformed into the new Greed after being spat out of Gluttony's fake Gate Of Truth. Having no memories of his former self he pledges himself to Fathers service once again.

In the anime
The second oldest of the Homunculi, Greed was created by Dante. However, due to his avarice, Greed rebelled and was eventually captured and sealed. He escaped 130 years later with some of the Lab 5 prisonders. After hearing of a new homunculus (Wrath), he searched for him, intending to add him to his group. The attempt to free Wrath from custody failed due to Greed, Envy and Sloth. Later, Greed and his group attack Alphonse, kidnapping him. He explained to Al that the reason for the kidnapping was Greed's desire to learn how Al's soul was attached to his armor. He was then interrupted by Izumi and Ed but just minutes after they started their fight, they were interrupted by state alchemists and forced to flee. Later, Greed was killed by Edward Elric after he figured out how to transmute Greed's body structure, allowing him to pierce Greed's heart, killing him due to all the Red Stones previously leached out of him. Before dying Greed told Ed how to weaken the Homunculi.

In the OVA "Reflections", a segment possibly reveals Greed's past and the reason he broke away from the rest of the Homunculi. A voice-over by Envy stated that Greed was Dante's former lover and the current him still loves her. Envy goes on to state Greed was merely an experiment. He denies being some love-struck fool and storms off in a huff.

In the same segment, Greed states that Envy always did like to torment him, so the story could actually have been a lie. But seeing how even though he was dying, Greed didn't inform Edward Elric of Dante's involvement with the Homunculi; and the fact he backed down from harming Edward when he noticed Dante was watching, Envy's story could actually be true.

Last Words I'm greedy as hell, always out for myself. She always said it would be the death of me. They pull the strings, now cut them. I'm counting on you, kid...