Tuesday, 7 July 2009

How would Goldman Sachs know that the stolen code could be used to manipulate markets?

Joe Wiesenthal at Clusterstock draws attention to a statement made in relation to the code stolen from Goldman Sachs, which raises awkward questions for that hallowed institution. Assistant U.S. Attorney Joseph Facciponti speaking on behalf of Goldman Sachs yesterday is reported as follows:
“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"
One obviously awkward consequence of this remark is - How would Goldman Sachs know that the code could be used to manipulate markets?

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