24 August 2017
Paul Penrose

Finblog

Paul Penrose - Finextra

307Posts 1,331,046Views 246Comments
Whatever...

Whatever...

A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.
A post relating to this item from Finextra:

FBI nabs programmer accused of stealing trading code

06 July 2009  |  12211 views  |  3
3401.jpg
A Russian computer programmer has been arrested by the FBI, accused of stealing proprietary trading code from the New York-based financial institution he used to work for.

Goldman fans flames for conspiracy theorists

10 July 2009  |  3260 views  |  0

Goldman Sachs hasn't had the best of press lately. A recent Rolling Stone article went as far as to describe the firm as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money". Others have noted that the firm's tentacles spread into every area of government and financial regulatory policy, prompting the nickname Government Sachs.

Given the slightly hysterical climate, you would expect the firm to keep a low profile and be extra cautious in its public pronouncements. So what does it do when one of its programmers gets caught in an alleged attempt to walk away with its top secret recipe for high-speed trading? It calls up the prosecutor and fans the flames by declaring "there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways.”

At least that's what Assistant US Attorney Joseph Facciponti told a judge at a bail hearing in New York.

Did Goldman really say that? Doh!

TagsWholesale banking

Comments: (0)

Comment on this story (membership required)

Latest posts from Paul

ANZ and Visa lose the plot

30 June 2011  |  6576 views  |  0 comments | recomends Recommends 0 TagsMobile & onlineRetail banking

Don't give up the day job...ever

20 May 2010  |  5820 views  |  0 comments | recomends Recommends 0 TagsTrade executionWholesale bankingGroupWhatever...

Now we are ten

19 April 2010  |  6203 views  |  3 comments | recomends Recommends 0 TagsRetail bankingWholesale banking

Finextra's Best of the Web

05 March 2010  |  5718 views  |  1 comments | recomends Recommends 0 TagsRetail bankingWholesale banking

The ATM was the last great financial innovation

25 February 2010  |  9777 views  |  8 comments | recomends Recommends 0 TagsRetail bankingWholesale bankingGroupFinance 2.0

Paul's profile

job title Head of Research
location London
member since 2007
Summary profile See full profile »
I'm responsible for editorial content and quality control across the full range of Finextra media.

Paul's expertise

Member since 2006
307 posts246 comments

Who's commenting on Paul's posts