One of the World's Most Successful Hedge Funds is Facing an Employee Rebellion Over Donald Trump

[sle]

It was only ever thrown out based on a technicality, basically under an obscure 1967 law that if something is written on paper it isn't "tangible".

Regardless of what exactly the reason for dismissal of the original case, the fact is that got tried for the same crime twice (first as federal and then as a state crime). Unless new evidence has been unearthed, it feels like GS got themselves a way to get around the double jeopardy clause.

PS. It comes from the same DA that charged the former head of the IMF with a rape he did not commit.

 

[bone]

Well, Mr. Magerman now has all kinds of time on his hands to pursue political activism without letting an employer get in the way. In the end, he got what he really wanted.

Somehow - and I'm going out on a limb here, there are thousands of brilliant credentialed quants desperately waiting to fill Mr. Magerman's void.

 

[Sig]

Regardless of what exactly the reason for dismissal of the original case, the fact is that got tried for the same crime twice (first as federal and then as a state crime). Unless new evidence has been unearthed, it feels like GS got themselves a way to get around the double jeopardy clause.

PS. It comes from the same DA that charged the former head of the IMF with a rape he did not commit.

As I understand it the prosecutor just appealed the trial judges decision to throw out the case and the state supreme court overruled the trial judge. That's not double jeopardy at all, that's just an appeal.
That said, as I mentioned in the last thread where we litigated this ad nauseam, GS has clearly made their point, they're getting the deterrent effect against a culture that clearly needed it since they apparently thought there was nothing wrong with theft of computer code, and got their pound of flesh from him. At this point putting the guy in jail for several years isn't warranted and makes them look like a bully. None of that makes the guy innocent though.

 

[sprstpd]

The jury determined that he did. A "mock jury" brought together by a men's magazine to present a highly colored view of the case (evil Goldman!!) didn't have access to the case, not to mention that they openly said it was fine to take code you were paid to produce because "everybody did it", so their opinion is worth less than nothing. Again, the real jury found him guilty of taking the code, that's a settled matter.

Yes, we all know that real juries are infallible.

 

[sle]

Yeah, there is no question there - the guy did take the code. This said, it's upsetting how GS stacks the odds against the little guy, be it in this case or let's say in case of Guillem Torre (who took the fall for them).

 

[dealmaker]

Yeah, there is no question there - the guy did take the code. This said, it's upsetting how GS stacks the odds against the little guy, be it in this case or let's say in case of Guillem Torre (who took the fall for them).

Do you mean Fabrice Tourre? Fabrice did take the fall for GS but doesn't the small guy almost always take the fall eg Mathew Martoma for SAC IE Steve?


https://www.wired.com/2015/05/programmer-convicted-bizarre-goldman-sachs-caseagain/

 

[Sig]

Yes, we all know that real juries are infallible.

They obviously aren't, but I'll certainly take one over a bunch of jackasses that Esquire put together who sit around pontificating without even knowing the actual facts of the case!

 

[sle]

Do you mean Fabrice Tourre? Fabrice did take the fall for GS but doesn't the small guy always do that eg didn't Mathew Martoma take the fall for SAC IE Steve Arnold Cohen?

Yes, Fabrice, sorry. There are some crucial differences between the SAC+Martoma case and GS+Tourre case.

 

[sle]

Somehow - and I'm going out on a limb here, there are thousands of brilliant credentialed quants desperately waiting to fill Mr. Magerman's void.

Waiting - yes. Can they? Not so sure. Depending on his exact role and who else is pissed off, they might have an exodus on their hands that would be hard to stop.

 

[bone]

Consider the publication, the source, the source's strained remote working relationship well before the Presidential election and of course the agenda.

This is pure treacle, and Renaissance will be just fine. The HF and bank desk trading environment has become so condensed and rarified that the idea of mass defections from a highly successful HF over of all stupid things politics is IMHO bullshit.