Goldman’s ‘Fabulous Fab’ Expected to Be the Only One Left Standing When the Market Collapsed


“More and more leverage in the system, The whole building is about to collapse anytime now! Only potential survivor, the fabulous Fab[rice Tourre] standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstrosities!!!” —a portion of an e-mail, translated from the French, from 31-year-old Goldman Sachs vice-president Fabrice Tourre, to a friend on January 23, 2007. The S.E.C today filed securities charges against Tourre and Goldman Sachs, alleging that the company misled investors about the health of subprime-mortage securities. [Earlier]