Aleynikov

great comments..specially this one-

On July 4th, Bloomberg News reported:

“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. 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 next sentence is particularly eye-opening: “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.”

J.S. Kim who runs an independent investment research and wealth consultancy firm commented on the financial site, Seeking Alpha:

“It’s curious to note that Goldman Sachs has admitted that it has developed trading software that could be used to, in their own words, “manipulate markets in unfair ways”, yet nobody in the mainstream media has questioned whether Goldman Sachs was / and is using its proprietary trading platform to manipulate markets in unfair ways. Only extremely naive investors with zero understanding of how global stock markets operate would deny that there has been continual and excessive intervention into US stock markets to prop them up over the past several months.”
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He just stole from the wrong people in a very stupid way. Since he was being paid around 400K, he must have been really good, and it should not have taken him and his new team at Teza more than 1 year, to reconstruct the code from his memory as long as he knew main building blocks.

A lot of people do not realize that the rules are quite different for regular folks vs higher echelon.
 
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