On Jul 7, 2009, at 11:12 AM, Doug Henwood wrote:
On Jul 7, 2009, at 9:58 AM, ravi wrote:
In one of the earliest posts on this matter on a blog or web site,
one of the commentors ranted that this sort of "stealing" of the
product of others is despicable. Another responded that this phrase
(stealing the product of others) pretty much sums up Goldman
Sachs! ;-)
Goldman does it more or less legally, and from people who are less
rich and powerful than they. This guy stole proprietary code (and
I'm no lawyer, but trading algorithms must be protected under IP
law, no?) from someone far more rich and powerful than he. That's
what makes it a crime.
That's pretty much it. Sabri, I haven't worked in a financial
institution, but from what I understand, they have very strict
policies on what you can copy to what computer, what you can work on
where, etc... a lot of this is in fact regulated by the government.
The situation is not analogous to me continuing to work on my code at
home... GS probably has explicit rules that prohibit that (or highly
limit that), even if they stand to gain from his unpaid labour. So, he
probably did break their rules -- it remains to be shown that he did
this with the intention of "stealing" their IP (algorithm) or
violating their copyright (code). I am just being technical here of
course (plus its difficult to muster sympathy for a guy who was making
400k/year and wasn't the friendliest of human beings in professional
interaction -- whatever be the higher-level issues involved), and I
agree with both you and Doug (above).
--ravi
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