Is Goldman Sachs Manipulating Markets?
Assistant U.S. Attorney Joseph Facciponti told a federal judge that Aleynikov’s alleged theft (of Goldman Sachs trading software) 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 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.
It's quite ironic that the U.S. Attorney arguing this case states that someone could manipulate markets in unfair ways by using Goldman Sachs trading programs. What exactly does this say about Goldman Sachs? That we should believe in their altruistic adherence to the honor system? May I ask why the FBI isn't investigating Goldman Sachs if this is indeed the case? Frankly, why isn't it investigating all of Wall Street? This all goes back to my post a few weeks ago where I highlighted the need for a Pecora-type investigation of Wall Street's potentially criminal and fraudulent activities.
Could Goldman Sachs please clarify these statements and concerns expressed throughout the blogosphere?
It's quite ironic that the U.S. Attorney arguing this case states that someone could manipulate markets in unfair ways by using Goldman Sachs trading programs. What exactly does this say about Goldman Sachs? That we should believe in their altruistic adherence to the honor system? May I ask why the FBI isn't investigating Goldman Sachs if this is indeed the case? Frankly, why isn't it investigating all of Wall Street? This all goes back to my post a few weeks ago where I highlighted the need for a Pecora-type investigation of Wall Street's potentially criminal and fraudulent activities.
Could Goldman Sachs please clarify these statements and concerns expressed throughout the blogosphere?
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