Comments on: Will Goldman Sachs Data Theft Scandal Bring Down High Frequency Trading?

By: What In The Hell Happened Today On Wall Street? - Justin Gardner - Political Pulse - True/Slant

Fri, 07 May 2010 02:47:13 +0000

[...] Well…we’ve heard all about automated systems trading stock so fast that it’s virtually unstoppable…haven’t we Goldman Sachs? [...]

By: lann

lann — Sun, 26 Jul 2009 04:22:06 +0000

This story amazes me. But, like so much of this economic fiasco and skullduggery too there are so many ways it’s just plain wrong that it is difficult to believe that those who committed this type of activity could have possibly considered it legal. Isn’t obtaining data from other private sources an illegal interception of electronically stored information under the federal wiretapping laws? And that would include even a nanosecond of surveillance of this type – eavesdropping for unfair advantage. That’s just one thought and then the insider trading but this seems more invidious than simple insider trading. This is the surreptitious theft of insider information, where the information is not actually volunteered but stolen, isn’t that even more criminal?

By: Claudia Deutsch

Claudia Deutsch — Sat, 25 Jul 2009 19:23:45 +0000

Well, you know where I stand on that — I think its insider trading, plain and simple, and is already against the law, if someone would only enforce it. But I want to send the Goldman thief a bouquet — you are absolutely right, if it hadn’t been for him, most of us wouldn’t realize this is going on. Let’s hope his action does indeed topple the practice