Goldman Sachs Proprietary Trading Codes Allegedly Stolen, Arrest Made

Published: July 7, 2009, 11:33 am

Updated: July 7, 2009, 12:19 pm

At least that's the buzz on financial blogs this past weekend. Below are links to headlines and very interesting discussions about potential future implications.

One commentary just picked up added last edit.

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"Is A Case Of Quant Trading Sabotage About To Destroy Goldman Sachs?

Posted by Tyler Durden at 5:48 PM Sunday, July 5, 2009

Major developing story: Matt Goldstein over at Reuters may have just broken a story that could spell doom for if not the entire Goldman Sachs program trading group, then at least those who deal with "low latency (microseconds) event-driven market data processing, strategy, and order submissions."

http://zerohedge.blogspot.com/2009/07/is-case-of-quant-trading-industrial.html

"A Goldman trading scandal?

Posted by: Matthew Goldstein

(Reuters)

http://blogs.reuters.com/commentaries/2009/07/05/a-goldman-trading-scandal/

"Goldman: Pwned?
Karl Denninger
http://market-ticker.org/archives/1181-Goldman-Pwned.html

"Goldman Trading-Code Investment Put at Risk by Theft (Update3) (Bloomberg)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoSjBHO2lOJk

"US Attorney Kicks Own Goal (On Goldman)?

http://market-ticker.org/archives/1183-US-Attorney-Kicks-Own-Goal-On-Goldman.html

Guest Post: Manipulation?

http://www.zerohedge.com/print/12639

Entry #1,225

Comments

JAP69 - Jul 7, 2009, 12:06 pm

I thought this comment was great on one of the links.
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"Funny that the SEC gets YEARS worth of tips on Madoff, and forgets where he works, while some dude at GS quits to work somewhere else, and the FBI meets him on the next plane!"

konane - Jul 7, 2009, 12:49 pm

Thanks JAP!!! That is a good one. I'm watching this story because it has the potential to begin a domino topple. Would imagine damage control is in turbo right now.

TigerAngel - Jul 7, 2009, 2:00 pm

Thanx for being a "watchman on the wall" for us Konane.

konane - Jul 7, 2009, 3:02 pm

Thanks TigerAngel!! Have never had enough money to trade stocks so have no background. However since the financial crisis seems to have been precipitated by naked short selling, hedge funds, and off the books derivitives have begun reading what they're talking about. Interesting what turns up!!!

Rick G - Jul 7, 2009, 5:09 pm

We could really use some "heroes" right about now. This is a good time for the FBI to shine and make up for some of its past criminality by busting up this crime ring. Now if we only had a Justice Dept......

We may start to see more whistle blowers coming out of the woodwork due to job loss, the financial lure of tattling, or conscience. When it begins, watch out. The levees are gonna break. There are so many financial/governmental crimes out there it's mind boggling. Might be a good time to become a paralegal and move to DC.

konane - Jul 7, 2009, 5:57 pm

Yes indeed we need investigations, serious protection of whistle blowers and let real justice take its course.

Goldman Sachs Proprietary Trading Codes Allegedly Stolen, Arrest Made

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