To be reassured that Goldman Sachs Group Inc. (NYSE:GS) is not an evil conspiracy bent on world domination, read Yvette Kantrow's latest
Media Maneuvers column, in which she critiques Matt Taibbi's anti-Goldman screed in a recent Rolling Stone.
But to be tilted back the other way just a micron or so, consider what Assistant U.S.
Attorney Joseph Facciponti told a federal judge about the proprietary trading software that an ex-Goldman programmer
allegedly stole from the firm. "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 in a recording of a
court session quoted by Bloomberg on Tuesday.
Hmmm. Is that really the argument they want to be making here?
Well, while Goldman's image consultants are sorting this one out, the rest of us can perhaps agree on two points. One, it's a shame the code was stolen, if stolen it was. And two, we'd hate for such a thing to happen at our companies.
Which, it turns out, may be getting more likely in this time of restructuring, layoffs and (let's be frank) disgruntled former employees. So allow us to pass along a few tips on avoiding such a debacle, courtesy of
this article in Bank Systems & Technology. Because even if your software couldn't bend markets to the will of a bad guy, it's still pretty valuable. -
Kenneth Klee
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Juergen Lasowski
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