Somebody was able to extract some pseudo-code before it was encrypted: if (DC_Phone rings once) Buy at 4000:1 leverage; if (DC_Phone rings twice) Sell at 4000:1 leverage; if (Profit) extract huge bonus; if (Loss) { get Bailout $; extract huge bonus; }
Is this guy getting harsher treatment then Bernie Madoff. Mr. Aleynikov was granted bail and is trying to meet the bail conditions. Bail includes a $750,000 personal recognizance bond secured by three financially responsible persons and $75,000 in cash. He must surrender all travel documents, and travel is restricted to New Jersey and the southern and eastern districts of New York -- Manhattan and Long Island.
I'm sorry... When did you say the firing squad would be linning up... Hollow points.... crike... don't mess with the Sachs... :eek:
you beat me to it. I was gonna say they were asking for the death penalty, but will settle for extradition back to the motherland and 30 years in Siberia. Duties: Moderate Elite Trader for the duration. my god, how inhumane
Goldman is the Welfare Queen of Wall Street - the major and primary expertise of the Goldman partners is the ability to socialize losses (i.e., have us, the public, pay for them through their governmental connections) and privatize profits (maintain the bounties from profitable activities in their own hands-again through their governmental connections). They do this through their intertwining networks in the halls of government, the Treasury, Fed and business. A Barron's article several months ago laid Goldman's most recent machinations bare in discussing how Goldman has used government guarantees of certificates of deposits to raise $20,000,000,000+ at extremely favorable interest rates to finance its proprietary trading activities - where equivalent financing raised without government guarantees would have cost 500 or 600 basis points more - and which would have materially cut into Goldman's profits. These guarantees were supposed to help banks raise money to lend - Barron's article noted that Goldman's CFO bragged about using the funds for its own trading activities. In my opinion, Goldman never met a conflict or potential conflict that it couldn't circumnavigate, at least in terms of its own code which embraces an extremely elastic view of one's ethical and fiduciary obligations. And the arrogance of this group is exemplified by Hank Paulson's attempt to get Congress to legislate unprecedented financial powers to him with no judicial oversight to "bail-out" the economy. The financial press in the past has, in general, been either too ignorant, or too in awe of Goldman, or both to write anything other than slavishly flattering pieces. If the general public knew all of the facts about Goldman I suspect there would be the same outrage.
<p>http://www.bloomberg.com/apps/news?pid=20601087&sid=ajIMch.ErnD4</p> <blockquote> <p>“The bank has raised the possibility that there is a danger that somebody who knew how to use this program <strong>could use it to manipulate markets in unfair ways</strong>,” Facciponti said, according to a recording of the hearing made public today. “</p> </blockquote> <p>lol, that's why it was created.</p>