SEC Should Free 'Fab' Tourre, Target Big Fish: William D. Cohan
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June 21 (Bloomberg) -- Those hoping for a measure ofjustice for the Wall Street executives who brought us thefinancial crisis won’t be finding it anytime soon in thedowntown Manhattan federal courtroom of Judge Barbara S.Jones.
What you’ll find there instead is the continuation ofthe Securities and Exchange Commission’s ridiculous civillawsuit against Fabrice Tourre, the Goldman Sachs GroupInc. executive director who, at 28, shepherded to market inApril 2007 Goldman’s infamous Abacus 2007-AC1 syntheticcollateralized debt obligation. The deal was done at thebehest of hedge fund manager John Paulson (who made abundle) and a pair of foolish European banks (who lostone).