He or most of his buddies could NOT be prosecuted and they all dumped on the French Fry Guy (rather that the true blue Freedom Fry Guys) from the University of Chicago.
Amazing.
Why not scapegoat one person just for the 'red meat' political folks out there?
By Ben Protesse
August 1, 2013
Fabrice Tourre, (click here) the former Goldman Sachs trader at the center of a toxic mortgage deal sold to investors on the eve of the financial crisis, was found liable on Thursday for civil securities fraud.
Amazing.
Why not scapegoat one person just for the 'red meat' political folks out there?
By Ben Protesse
August 1, 2013
Fabrice Tourre, (click here) the former Goldman Sachs trader at the center of a toxic mortgage deal sold to investors on the eve of the financial crisis, was found liable on Thursday for civil securities fraud.
Five years after the crisis, he is the only employee of a big American bank to lose a courtroom battle to Wall Street’s top regulator, the Securities and Exchange Commission. The S.E.C. took only a handful of employees to court over the crisis, but most cases were settled.
After two days of deliberation, the nine-person jury concluded that Mr. Tourre misled investors about the mortgage deal, capping a more than two-week civil trial in one of the most prominent cases involving the 2008 crisis.
Of the seven charges facing Mr. Tourre, the jury found him liable on six.
Mr. Tourre, a 34-year-old Frenchman who is enrolled in a doctoral economics program at the University of Chicago, now faces a fine, or worse, a ban from the Wall Street. The verdict raises questions about his lawyers’ decision not call a single witness, a show of confidence that failed to impress the jury....
