Sergey Aleynikov, the Russian computer programmer/algorithmic trader who became a VP at Goldman Sachs after a career in VoIP, has now been indicted for charges which include the theft of trade secrets, transportation of stolen property and unauthorized computer access. If he's convicted, Sergey could be imprisoned for 25 years.
Following a day in which a former Goldman strategist appeared to suggest that the bank front runs its clients and that the bank is fundamentally akin to a large hedge fund, Sergey's indictment illustrates the value of high frequency trading code to Goldman and other firms. Until yesterday, it was thought the Aleynikov case might be quietly dropped.
The New York Post says Aleynikov was paid $400k at Goldman, and that he was being offered $1m to join Chicago-based Teza Technologies, to whom he allegedly planned to present Goldman's proprietary code.
Goldman Sachs wants to expand its existing fixed income, currency and commodities and equities business into emerging markets. (Wealth Bulletin)
Another PR disaster for Goldman as someone (or something) using its servers appears to rig Guardian vote on Tobin Tax. (Guardian)
Several reasons why the Robin Hood tax is totally ill-conceived. (Financial Times)
Barclays expected to cut compensation ratio to a 10 year low. (Evening Standard)
Barclays will spread the UK bonus tax pain globally. (Wall Street Journal)
Pension funds suing Morgan Stanley for overpaying after the bailout. (Reuters)
Feinberg has no say on pay at Citigroup any more. (Feinberg)
The FSA is hiring an extra 280 staff for its supervisory enhancement programme. (ThisisLondon)
Global IPO fees are $300m so far this year. Last year they were $5m. (Financial Times)
Unemployed IT worker? Don't even think of trying to find work in India. (Bloomberg)
If there were no returns to career choices in the marriage market, men would tend to work less, study less, and choose blue?collar jobs over white?collar jobs. (Bakadesuyo)
A test to determine whether you're sleep deprived. (The Times)