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Ex Goldman Sachs programmer gets 8 years
A FORMER GOLDMAN SACHS computer programmer was sentenced to eight years in prison on Friday because he stole high frequency trading software for his new employer.
Perhaps the only person from Goldman Sach's to be convicted for stealing despite the biggest banking heist in history, Sergey Aleynikov was arrested by the Federal Bureau of Investigation in July 2009 for removing the code. He took the code just before he left Goldamn Sachs and started his new job.
According to Reuters, Aleynikov was a one time collegiate-level competitive ballroom dancer but he didn't have fancy enough legal moves and was convicted after a two-week jury trial in Manhattan federal court. As well as being sentenced to eight years in prison, he also has to pay a $12,500 fine.
When he was sentenced Aleynikov said, "I very much regret the foolish thing of downloading information. Part of this information was proprietary to Goldman. I never meant to cause Goldman any harm or harm anyone at the bank."
No doubt Goldman Sachs employees feel the same way about the vast number of people whose lives have been ruined by the financial meltdown that occurred after those banksters decided to gamble irresponsibly with astronomical leverage, set up their own clientele for massive financial losses, game the US financial and political systems, and get bailed out by the taxpayers. µ
Tags: Software
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It is wrong what was done, and we should never turn to stealing in order to provide for ourselves. Stating that I do have to add the following..Look at what the banks did to the people, completely screwed the vast majority and on top of that were bailed out by TAXPAYERS money. On top of that all the money that was borrowed was returned WITHOUT ANY KIND OF INTREST RATES. What does that mean? That means that the same money that was burrowed with no interest banks made more money off of because they lend that money right back to the government and taxpayers with a ridicules amount of interest, which in my opinion is worse than steeling. if anything, the banks CEO's and all people in charge of them should have gotten sentenced to jail with a MAJOR fine. It’s easy to judge someone from media perspective. And even though to wrongs don’t make a right, I don’t think that this guy deserved the punishment he received.
Talk about being a scapegoat!
They (the banksters) are sending a message, don't mess with their rigged system. The fed keeps rates artificially low, so only an idiot would keep his money in a savings account, and they keep pumping money in the system to try to keep the volume of trades up so the banks and their algorithms can keep siphoning money out of the system. It's all a big game, and it's rigged. You'd have to be brain-dead to believe otherwise. George Carlin fearlessly said it a long time ago, and it still rings true today - "There's a reason it's called the American Dream, because you have to be asleep to believe it." (Link: http://www.youtube.com/watch?v=acLW1vFO-2Q)
In "Limitless" the movie the story unfolds around a guy who was 3 and 4 jumps ahead of crooks who were after his drug that makes the mind perform at 100% capacity. He was like Barry Bonds, but instead of hitting home runs he could learn any foreign language in a month and became a math wizard standing Wall Street on it's ear. The movie makes you feel muted.
In other news, Devil eats own children...
Raises the question though, is theft more or less ethical than gaming the financial system?
Sice we have no clarity on the issue this time around I am sure we can expect more of the same next decade.
But that is better than sending banker's to jail... isn't it?
It's interesting that on this article there's a 'robert' style comment too, I thought those drones were hired by the media mafia but it seem the people running that kind of 'prepared-message-system' also do it for the banks, very telling.
Eight years should give this dud time to think about his worthless life.
Its a warning against messing with something as important as the ruling classes' abilities to skim money from the working population. If you meddle with capitalism, we'll put you away.
By which they mean their type of capitalism, rigging markets and creating bubbles rather than actual free flowing markets and unrestricted trade.
Roll on the wikileaks revelations...
@ Shouter
Lets compare to burglary...
http://wiki.answers.com/Q/How_long_do_you_go_to_jail_for_burglary
"But if you have a completely clean, or relatively clean record you will prob be on supervised probation for 2-4 years."
Would you like to try and justify that again?
THANKS FOR REMINDING ME THAT DOWNLOADING INFORMATION THAT DOESN'T BELONG TO ME IS THEFT, NO MATTER HOW EASY IT IS TO DOWNLOAD OR THAT NOBODY IS LOOKING.
NO DIFFERENT REALLY THAN WHEN THE NEIGHBOR LEAVES HIS CAR WINDOW WOUND DOWN, I COULD EASILY GO TAKE HIS PARCEL IN THE BACK SEAT (IT'S UNPROTECTED) BUT TO DO SO IS FUNDAMENTALLY NO DIFFERENT THAN THEFT.