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The e-mail messages Fabrice Tourre sent to a girlfriend in late 2007 make it clear that the glib and sometimes arrogant 28-year-old trader was fully aware that the financial "monstruosities" he helped create at Goldman Sachs were entirely bunk.
But the highly personal messages, written in confidence and released over the weekend by Goldman, also suggest that Tourre had some misgivings about the toxic trades he engineered over two years ago, which are now the subject of fraud charges brought by the Securities and Exchange Commission.
In an e-mail dated Jan. 23, 2007, Tourre described himself as "the only potential survivor" of a collapsing market for complex deals based on mortgage-backed securities. As the only Goldman employee named in the SEC's complaint, Tourre appears to have been wrong on that point.
Filed under: 360° Radar • Economy • Finance
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The "AMA" has been studying "Disease"s of all kinds for many years. There's one though I think they have overlooked,Greedism. It's kinda like Alcoholism,one is to many and a thousand is not enough.