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Politics : Welcome to Slider's Dugout

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From: tntpal	7/7/2009 1:42:16 PM
	13 Recommendations of 50746

Goldman Sachs Market Manipulation Software Stolen: Too Funny if it wasn't so true - Goldman Sachs Market Manipulation Software was was purloined by the computer programmer who helped design it: “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. “The copy in Germany is still out there, and we at this time do not know who else has access to it...” The prosecutor added, “Once it is out there, anybody will be able to use this, and their market share will be adversely affected.” The proprietary code lets the firm do “sophisticated, high-speed and high-volume trades on various stock and commodities markets,” prosecutors said in court papers. The trades generate “many millions of dollars” each year. Not even going to attempt to elucidate in how many different ways the first sentence above is just...plain wrong. 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." When Goldman is the perpetrator, the manipulation is conveyed via "fair ways." And when the manipulator is someone else, the ways become "unfair..." bloomberg.com zerohedge.blogspot.com "Help!!! Police, someone stole our market manipulator!!!"

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