IMHO, this story is mostly noise. Sergey Aleynikov took some source code home from the office one day ...and got caught.
Sergey should get a fair trial and if convicted, do very hard time as stealing Intellectual Property is abhorrent and repugnant, but his crime is not that of being a global criminal mastermind, it is of being a schmuck and a common thief.
Here's the deal...the source code in question, is in all likelihood, useless.
Goldman Sachs can be thought of as one big global grid of computers.
This massive grid of computers is run on a Category 5 Hurricane of software that takes an army of engineers, traders, quants, statisticians and the like build and maintain...It is one of the world's largest ongoing engineering efforts.
Goldman, in its unique market position, has lots of proprietary information flowing about that they analyze in real-time to make trading decisions which make them a lot of money.
Here's the catch...Sergey only has some of the source code that once compiled runs the Goldman Sachs grid....and you need most, if not all of it, to make real-time decisions.
I am not privy to the details of what is in the source code that Sergey stole, but even if it is Goldman's 'Crown Jewels' it won't work very well, and likely not at all, without all of the myriad of proprietary data feeds that Goldman is updating with almost every clock cycle on almost every processor in their grid.
Did Sergey steal all of this too? Can the code that he stole be installed and run in real-time? To do this, he would have to hack into every nook and cranny of the Goldman Grid to replicate this torrent of information that feeds the algorithmic decision making engine that only Goldman has access to.
Furthermore, if Sergey could replicate the entire Goldman Grid, does he have the capital needed to fire off these programs? Never mind all of the direct connections needed to all of the exchanges.
Lemme know if I am off base here.