TPMMuckraker Fabrice Tourre
Goldman Sachs
Trader At Heart Of Goldman Suit: I Sold Shoddy Mortgage Products To 'Widow And Orphans'
Ben Frumin | April 26, 2010, 4:48PM
Wall St. bull and Fabrice Tourre (inset)
It sure sounds like Goldman Sachs bond trader Fabrice Tourre knew exactly what he was doing.
In a series of 2007 emails released over the weekend by Goldman Sachs, Tourre, who was charged earlier this month in the SEC's civil fraud case against Goldman, comes across as a sly dealer of financial products that he seemed to know were ticking time bombs -- bragging about selling them to a "widow and orphans" -- but also as someone ethically conflicted about doing so.
PERMALINK | COMMENTS (18) | RECOMMEND RECOMMEND (2)Topics: Fabrice Tourre, Goldman Sachs, Lloyd Blankfein
Goldman Sachs
SEC Slaps Goldman With Civil Fraud Complaint
Justin Elliott | April 16, 2010, 11:10AM
The Securities and Exchange Commission today charged Goldman Sachs with defrauding investors by allegedly "misstating and omitting key facts" in the marketing of a financial product linked to the performance of subprime mortgages right as the housing crisis was beginning to unfold.
The complaint comes down just as the attention of Washington is turning fully to financial reform.
PERMALINK | COMMENTS (123) | RECOMMEND RECOMMEND (8)Topics: Fabrice Tourre, Financial Reform, Financial Regulation, Goldman Sachs, Securities and Exchange Commission, Subprime Mortgages
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