Trader fraud cost Goldman 118M$

http://www.reuters.com/article/2012/11/09/us-goldman-fraud-lawsuit-idUSBRE8A806S20121109

Woohoo... A new rogue trader, one more...( who cares? )

 

118 million only....thats peanuts for a rogue trader standard. he will be quickly forgotten. lol

 

LOL, look at the fine they want from him: $130K. that's probably about his bar tab on a good night.

 

That is probably near to what he is being paid.

 

Yeah, I know exactly how that game is paid. "My base salary is only $150K", key word "base".

 

I know irony huh!


what market did he peform this top drawer trade ?

 

If somebody commits a crime against GS, does that act actually constitute being a "crime"? :eek:

 

honor among thieves

 

"Professional courtesy"

 

I can hardly wait for the future headline .... bot computer loses money ..... pulled off a plane while on the run from the FBI ... placed on the no fly list ... his lawyer layers milllions of appeals ... 30000 a second, which are all withdrawn nanoseconds later in an attempt to gum up the appeal system and thereby profit from it.

On trial, he admits to losing the money but claims he wasn't trying to lose money and besides all his computer buddies including his boss, knew the 20 cent risks he was taking and ultimately became addicted to.

After years of court battles, the governor (an ex Goldman Sachs trader as luck would have it) pulls the plug in front of his microprocessors.

A sad tale of risk gone wild.