An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Monday, July 6, 2015
Ha ha ha...score one for the little guy!
Goldman commits all kinds of crime: fraud, market manipulation, insider trading and nothing happens. Maybe...MAYBE...they pay some fines.
But when some low level programmer leaves the firm Goldman accuses the guy of stealing their precious high frequency trading code and the prosecutors and cops are right there to arrest this kid. He's gotta defend himself through not one, but TWO trials and he's found innocent each time.
I am happy for the kid, but his life is probably still ruined while the real criminals go on doing what they've been doing--ripping off everyone. (Or as Lloyd Blankfein calls it, "God's work.")
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