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February 12, 2010

Ex-Goldman Sachs Programmer Indicted for Stealing "Dangerous" GS Code

Editor's note: In case you need a quick catch up, an ex-Goldman programmer was busted stealing a tiny piece of GS's evil code. The bank admitted that "in the wrong hands", the code could be used to manipulate markets. But wait, who decided that Goldman Sachs' hands were somehow right? Anyway, after a quiet summer, the programmer gone wild is back in the news and GS attorneys are out for blood. Show us the code, then, GS, I think it's only fair that you introduce it as evidence in the courts if you claim it is so dangerous and actually want to prosecute for stealing it. - JDA


I still can't believe Goldman actually admitted that they own a piece of technology that could be "dangerous" in the wrong hands. You bastards are slipping, you're supposed to act nonchalant about your devastating trading activities. Pfft. (Said Zero Hedge: "At least it is refreshing that none other than Goldman's own de facto attorney admits that the firm has created a piece of code that permits "market manipulation." So much win.)

Reuters:

A former Goldman Sachs Group programmer was indicted on charges he stole computer code for the investment bank's high-frequency trading platform, federal prosecutors said on Thursday.

The former programer, Sergey Aleynikov, 40, was arrested and charged in July. The three-count indictment alleges that Aleynikov, who worked at Goldman from May 2007 to June 2009, illegally transferred and downloaded "hundreds of thousands of lines of source code for Goldman's high-frequency trading system" on his last day at the firm.


Read the rest over at Jr Deputy Accountant
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Posted by Larry Rubinoff at 2:35 PM

4 comments:

  1. AnonymousFebruary 14, 2010 at 4:36 PM

    Have you ever considered that the code might include details of GS's strategies, and thus somebody from another company might use that to mannipulate the market because they could trade against positions GS are intending to take but haven't yet? The strategies themselves are not dangerous or manipulative per se, but having somebody else trade with that insider knowledge would be able to manipulate the market in dangerous ways.

    It's not rocket science, you know.

    ReplyDelete
  2. AnonymousFebruary 14, 2010 at 7:03 PM

    Oops goldman did it again... now in Europe!

    http://montyhallparadox.blogspot.com/2010/02/goldman-does-it-again.html

    ReplyDelete
  3. AnonymousFebruary 14, 2010 at 7:09 PM

    Transparency is not required but most feel its needed for the health, the integrity, and the normal function of markets. It's not rocket science, you know.
    Go BIOYA

    Wall St. Helped to Mask Debt Fueling Europe’s Crisis

    As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

    http://www.nytimes.com/2010/02/14/business/global/14debt.html?ref=business

    ReplyDelete
  4. AnonymousFebruary 14, 2010 at 10:50 PM

    "On your clothes men find the lifeblood of the innocent poor, though you did not catch them breaking in."
    -Jeremiah 2:34 New International Version

    ReplyDelete

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