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For the purposes of sentencing under USSG §2B1.1(b), what is "Goldman's" trading software worth?
Submitted by Marla Singer on 07/05/2009 23:07 -0400
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I think very hard to value something that you get arrested for using unless you have the regulatory agencies in your back pocket. Kind of limits the number of bidders.
I think it's worth 20 to life
If you can manipulate the markets with this software, it's worth infinite, since you can make money on no investment (net zero invested, but infinite returns).
this thing is worth a billion.
You mean before it got released into the wild, right? The sentencing guidelines is an interesting question. There are quirks I won't go into, but I would love to see the evidence presented at this sentencing.
I'm particularly interested to see if they try to invoke the critical infrastructure disruption enhancement.
Its crazy but Trade Secret theft is a crime; so you can sign a business contract with a trade secret clause and then be prosecuted by a variety of governments. This is civil.
Where's the button for "worthless" ......
Thats what it will become when NYSE grows a set and starts acting like a proper exchange, instead of a money hungry whore going to the highest bidder; because if they did they wouldn't allow the kind of manipulation and outright robbery that GS and other similar firms commit on a daily basis, and all these super-duper gazillion dollar quant systems could be used to run the media empire of Tyler Durden ;-)
When Kevin Mitnick (famous hacker) was convicted for stealing copies of proprietary source code to a number of operating systems and the Motorola Star-tac phone, the government asked the victims to estimate the costs. Motorola, Oracle, Sun, et. al. just added up the total development costs of the stolen source code and the cost of securing their networks after the fact.
I'm guessing the feds will ask Goldman to estimate the damages and they'll just add up all the expenses of their rapid quant team over the last 10 years and the cost of some pricey corporate security consultants. Put me down for $200MM-$400MM.
It is worth nothing. All it does is relieve retails of their hard earned money. If I was a con, I will probably pay the maximum bid to be victorious in every trade I executed.