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Business Bytes
March 22, 2010

Greed Is Google

 

Oh my! Google is creeping me out - again.

Check out one of their latest job postings. Google is advertising for a bond trader. Bond trader?

So the math is simple.

Lots and lots of cash reserves + Lots and lots of data = Let's start the mother of all hedge funds.

When I say they have a lot of cash on hand; I mean a lot of cash! Google has more than 24 billion dollars in reserves. That's a lot of mad money.

Google is also looking for a couple of portfolio analysts, as well.

What bothers me the most about this is how Google may use its enormous data mining capabilities.

If the SEC couldn't figure out how to sit on the derivatives market to safeguard the financial system, what are the chances it can keep up with whatever Google is up to?

Let's hope Google stands by its corporate mantra:

"Don't be evil."

Renee Oricchio

Renee Oricchio is a technology writer and former supervising news producer for CNN Financial News. She has been covering the computer industry since 1987.