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Posted on the if you still have faith in the markets thread but i though this was good enough to go on it's own thread. :lol::lol::lol:

Goldman Sachs manipulation software has been stolen and they are worried in the wrong hands someone might manipulate the markets unfairly, I know they do it for the greater good, high stock markets makes everyone feel better but it takes away the market element away in my view.

Goldman May Lose Millions From Ex-Worker’s Code Theft (Update1)

http://www.bloomberg.com/apps/news?pid=206...id=axYw_ykTBokE

July 7 (Bloomberg) -- Goldman Sachs Group Inc. may lose its investment in a proprietary trading code and millions of dollars from increased competition if software allegedly stolen by a former employee gets into the wrong hands, a prosecutor said.

Sergey Aleynikov, an ex-Goldman Sachs computer programmer, was arrested July 3 after arriving at Liberty International Airport in Newark, New Jersey, U.S. officials said. Aleynikov, 39, who has dual American and Russian citizenship, is charged in a criminal complaint with stealing the trading software. Teza Technologies LLC, a Chicago-based firm co-founded by a former Citadel Investment Group LLC trader, said it suspended Aleynikov, who started there on July 2.

At a court appearance July 4 in Manhattan, Assistant U.S. Attorney Joseph Facciponti told a federal judge that Aleynikov’s alleged theft poses a risk to U.S. markets. Aleynikov transferred the code, which is worth millions of dollars, to a computer server in Germany, and others may have had access to it, Facciponti said, adding that New York-based Goldman Sachs may be harmed if the software is disseminated.

“The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways,†Facciponti said, according to a recording of the hearing made public yesterday. “The copy in Germany is still out there, and we at this time do not know who else has access to it.â€

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Goldman Sachs manipulation software has been stolen and they are worried in the wrong hands someone ELSE might manipulate the markets unfairly, I know they do it for the greater good, high stock markets makes everyone feel better but it takes away the market element away in my view.

fixed

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Goldman are right to worry, in unscrulous hands someone may look to move the market and to profit from it using the software which would be just wrong. These things need to be kept in the hands of reputable firms like Goldman.

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Goldman are right to worry, in unscrulous hands someone may look to move the market and to profit from it using the software which would be just wrong. These things need to be kept in the hands of reputable firms like Goldman.

An interesting view on the comments at Zerohedge is that this could be GS stunt!

http://www.zerohedge.com/article/sergio-po...ates-cyberspace

by Ajas

on Tue, 07/07/2009 - 05:05

#4987

"My take on this is that Sergey is telling the truth... why? Simple, the COST of him attempting something malicious against GS and failing far, far outweighted the BENEFIT of succeeding... guy with a family starting a $1.2 M/yr job?

No, this was pure payback for leaving "The Firm". This was a warning message to every single GS employee that literally the DAY you leave, you are an enemy. And GS doesn't benefit from having every single of the world's best hackers alerted to the fact that the most sought-after trading riches are sitting around on some po-dunk FTP server in Germany... and on its back-up drives... and on personal back-ups... with copies in FBI evidence vaults and their back-ups.

It just doesn't make sense for GS to invite the gov and the public into its gravest crisis... unless there is no crisis."

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An interesting view on the comments at Zerohedge is that this could be GS stunt!

http://www.zerohedge.com/article/sergio-po...ates-cyberspace

by Ajas

on Tue, 07/07/2009 - 05:05

#4987

"My take on this is that Sergey is telling the truth... why? Simple, the COST of him attempting something malicious against GS and failing far, far outweighted the BENEFIT of succeeding... guy with a family starting a $1.2 M/yr job?

No, this was pure payback for leaving "The Firm". This was a warning message to every single GS employee that literally the DAY you leave, you are an enemy. And GS doesn't benefit from having every single of the world's best hackers alerted to the fact that the most sought-after trading riches are sitting around on some po-dunk FTP server in Germany... and on its back-up drives... and on personal back-ups... with copies in FBI evidence vaults and their back-ups.

It just doesn't make sense for GS to invite the gov and the public into its gravest crisis... unless there is no crisis."

Oh really

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“The second thing that they can do is actually analyze the code so that they know what Goldman’s going to do before Goldman does it and kind of reverse engineer Goldman’s strategies and make money basically at the expense of Goldman.â€

I can see why they are miffed at that.

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