Man Steals NY Federal Reserve Bank Source Code

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There are several crimes happening here. Crime number one: Contract employee steals source code. Crime number two: The NY Federal Reserve Bank computers have open USB ports that allow this kind of thing to happen. They probably have high speed internet with AOL and the entire line of Zynga games installed too. :rolleyes:

Zhang allegedly admitted that in July 2011 he checked out and copied the code onto an external hard drive and on to his own computers, according to the complaint unsealed today. He said he used the code in connection with a computer programming training company he operated, the complaint said.
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The U.S. has spent about $9.5 million to develop the code.
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I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
 
The Neo Zero said:
I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
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You don't think that Windows or OSX source code is worth that much?
 
The Neo Zero said:
I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
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Come on now, this IS the US Government we're talking about. The same government that spends $3000 on toilet seats and $1000.00 on soap dispensers. I also bet their code is clusterfuck of 16 and 32 bit code from 20 years of bandaided software.
 
The Neo Zero said:
I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
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Um, didn't Unreal Engine 3 cost in the tens of millions to develop? I see to remember reading Epic saying so. Something like $40 million when all was said and done.
 
OregonLAN said:
Come on now, this IS the US Government we're talking about. The same government that spends $3000 on toilet seats and $1000.00 on soap dispensers. I also bet their code is clusterfuck of 16 and 32 bit code from 20 years of bandaided software.
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Exactly. There's a reason we have a $15,000,000,000,000 debt.
 
Yeah, kind of odd, I work for a big evil bank and the USB ports on or machines are well locked down and nothing gets on our network without a LOT of hoops. That said, there's always a way to skin a cat. A developer that isn't resourceful enough to make copies of code that he works on and has access to probably isn't that good of a developer.
 
krogen said:
I think Linux kernel source code is worth that much and yet it costs absolutely nothing.
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So, it was completely free to develop? Really? Because that is what is being referred to and not the cost to purchase the software.
 
The Neo Zero said:
I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
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You have no idea what you are talking about. Do you think it cost that much to just write the code? No.

Cost to see where the problems are...
Cost to discuss problems and solutions...
Develop solutions....
Test solutions....
Implement solutions....
Monitor and patch.....

The codes and process written here are not for a few people. It is for millions of shareholders and at the same time, the code needs to be secure, usable, efficient, and work within the hardware restrictions.
 
Bambi said:
You have no idea what you are talking about. Do you think it cost that much to just write the code? No.

Cost to see where the problems are...
Cost to discuss problems and solutions...
Develop solutions....
Test solutions....
Implement solutions....
Monitor and patch.....

The codes and process written here are not for a few people. It is for millions of shareholders and at the same time, the code needs to be secure, usable, efficient, and work within the hardware restrictions.
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Yeah, people who've never written code, especially for large and complex institutions like big banks really have no clue just how expensive it really is with the bulk of the cost not having anything to do with code or the technical implementation directly.
 
Just chiming in to remind everyone that the "Federal Reserve" is not actually owned/run by the federal government, despite classifying their employees under federal regulations and having the name "federal". These guys are more or less the reason for the US recession and most of our existing financial issues as a country.

#themoreyouknow
#threadderail
 
lilbabycat said:
Just chiming in to remind everyone that the "Federal Reserve" is not actually owned/run by the federal government, despite classifying their employees under federal regulations and having the name "federal". These guys are more or less the reason for the US recession and most of our existing financial issues as a country.

#themoreyouknow
#threadderail
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Did you just put fucking hash tags in this thread? This is not Twitter.
 
RealityCrunch said:
Yep, a private organization in charge of our economy. Got to love it :(
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That is constitutional and sanctioned by congress. It's also not totally private, but a quasi-governmental agency that operates both within the private and public sector. So, if you didn't have the federal reserve (and before you look at wiki to answer this question, do you even know what it does?) would you rather have congress take it's place instead? Please think deeper than Ron Paul platitudes.
 
Methadras said:
That is constitutional and sanctioned by congress. It's also not totally private, but a quasi-governmental agency that operates both within the private and public sector. So, if you didn't have the federal reserve (and before you look at wiki to answer this question, do you even know what it does?) would you rather have congress take it's place instead? Please think deeper than Ron Paul platitudes.
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That is to say you believe it is more effecient and in the best intertest of the poeple to have a "quasi" private orginization produce our currency and then sell it to us, rather then let the government directly create it and distribute it?

You know how us s are, we need things explained to us is s-l-o-w talk.
 
westrock2000 said:
That is to say you believe it is more effecient and in the best intertest of the poeple to have a "quasi" private orginization produce our currency and then sell it to us, rather then let the government directly create it and distribute it?

You know how us s are, we need things explained to us is s-l-o-w talk.
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The Fed made $87 billion dollars in 2010 and all of the Fed's profit goes directly to the US Treasury. People need to read up on the history of central banks, and just about every advanced nation on Earth has one, and understand why they created and why they are structured they way they are.

No they aren't perfect but they beat the snot out of prior systems. Indeed the Fed was created mostly in response to a persistent series of economic collapses where in some instances super wealthy interests tried to hoard cash and resources, "corner the market" as it was known to essentially prevent the thing that central banks actually do mitigate.
 
lilbabycat said:
Just chiming in to remind everyone that the "Federal Reserve" is not actually owned/run by the federal government, despite classifying their employees under federal regulations and having the name "federal". These guys are more or less the reason for the US recession and most of our existing financial issues as a country.

#themoreyouknow
#threadderail
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Just chiming to remind everyone that the Federal Reserve is independent within government, but is subject to congressional oversight. The board of governors of the Fed are chosen by the President and confirmed by the Senate just like the members of the Supreme Court are.

#themoreyouknow
 
heatlesssun said:
The Fed made $87 billion dollars in 2010 and all of the Fed's profit goes directly to the US Treasury. People need to read up on the history of central banks, and just about every advanced nation on Earth has one, and understand why they created and why they are structured they way they are.

No they aren't perfect but they beat the snot out of prior systems. Indeed the Fed was created mostly in response to a persistent series of economic collapses where in some instances super wealthy interests tried to hoard cash and resources, "corner the market" as it was known to essentially prevent the thing that central banks actually do mitigate.
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+1
Thank you, sir. And may I recommend to everyone:

http://www.amazon.com/Banking-Finan...590X/ref=sr_1_4?ie=UTF8&qid=1327042899&sr=8-4

This is why I think a few econ classes should be required in college. Then less people will support crazy ideas like reverting to the gold standard.....
 
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heatlesssun said:
The Fed made $87 billion dollars in 2010 and all of the Fed's profit goes directly to the US Treasury. People need to read up on the history of central banks, and just about every advanced nation on Earth has one, and understand why they created and why they are structured they way they are.

No they aren't perfect but they beat the snot out of prior systems. Indeed the Fed was created mostly in response to a persistent series of economic collapses where in some instances super wealthy interests tried to hoard cash and resources, "corner the market" as it was known to essentially prevent the thing that central banks actually do mitigate.
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I'll just quote another poster from a similar discussion

TLDR: Printing money =/= profit
The way the Fed "earns" the bulk of its money is, by "buying" Treasuries from the U.S. government. The government "sells" Treasuries to the Fed, and the Fed pays for them with money that the Fed creates out of thin air -- in effect, it adds the Treasuries to the deposit column of its member banks.

The Fed then collects the standard interest on these Treasuries that it has "bought", and then "returns" all of the interest, minus a contractually agreed upon convenience fee, to the government. The government is happy, because it effectively sold debt to the Fed, for which it pays only a nominal amount of interest, and the Fed is happy, because its banks get to lend out this money, plus the convenience fee, while small, is huge in terms of the actual amounts.
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The Neo Zero said:
I've never heard of any source code or software development that would cost this much money...
Even if it took the programmers 5-10 years to write and proof the code..
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Team of 20 contractors + management (which is pretty damn lean for this kind of project). 8 developers, 4 testers, 4 analysts, 2 managers / leads. $250k average per person annual cost (which is low for good talent in NYC). That's $5 million a year in personnel cost alone.

This is not you hacking PHP in your basement.
 
krogen said:
I think Linux kernel source code is worth that much and yet it costs absolutely nothing.
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The man hours spent on the Linux kernel and its popularity makes it worth hundreds of millions if not billions.
 
The Federal Reserve is a misnomer: It is a banking cartel. They are not federal and there is no reserve. They "print" money out of thin air. The full faith and credit of the US gov't is our children as debt slaves. The $ is cooked. It will not be a pretty finish. If you don't own precious metals the window is closing quickly that you can buy them at these dirt cheap prices.
 
celeron300 said:
The Federal Reserve is a misnomer: It is a banking cartel. They are not federal and there is no reserve. They "print" money out of thin air. The full faith and credit of the US gov't is our children as debt slaves. The $ is cooked. It will not be a pretty finish. If you don't own precious metals the window is closing quickly that you can buy them at these dirt cheap prices.
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Money is a representation of the goods and services in an economy, not the actual goods and services themselves. Gold standard proponents act as though the world has never used it. There's plenty of history demonstrating the problems with it and why it fell out of favor.
 
Xeth said:
Team of 20 contractors + management (which is pretty damn lean for this kind of project). 8 developers, 4 testers, 4 analysts, 2 managers / leads. $250k average per person annual cost (which is low for good talent in NYC). That's $5 million a year in personnel cost alone.

This is not you hacking PHP in your basement.
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I think your numbers are a little off. No way is the government going to pay 250 grand per year for a developer.
 
yixi said:
I think your numbers are a little off. No way is the government going to pay 250 grand per year for a developer.
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No not typically but there are plenty of developers that bill that kind of rate if they have particular skills.
 
yixi said:
I think your numbers are a little off. No way is the government going to pay 250 grand per year for a developer.
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I got paid 180 per year as a mid level developer in the Midwest, working on an administrative application for the military. 250 grand on the east coast is low.
 
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