Fabrice Tourre Goldman Sachs Wiki?

Is there a wiki article of Fabrice Tourre?
The SEC's fraud charges against Goldman Sachs focus on a Frenchman known as the "fabulous Fab."

At least, that's how Fabrice Tourre described himself, according to a 22-page complaint filed by the Securities and Exchange Commission on Friday.

But who is this guy? Who is the fabulous Fabrice Tourre? I could not find a wiki page about him.
What is Fabrice Tourre's biography and how did he end up in Goldman Sachs?

asked by Jaylen in Investing | 13788 views | 04-16-2010 at 08:41 PM

There is no wiki page of Fabrice Tourre and no biography page either.
Fabrice Tourre, a French graduate of Stanford who has worked at Goldman Sachs since July 2001 is the vice president of the company. He was charged with securities fraud by the Securities and Exchange Commission.

Last December, the New York Times reported on Fabrice Tourre's role in helping create Abacus deals, which allowed investors to bet for or against mortgage securities through credit default swaps.

There is certainly evidence that Goldman and Fabrice Tourre said one thing internally and another externally. It also appears that the information that was omitted in the external marketing materials would likely have been of interest to investors.

That's not proof of fraud, but, as represented by the SEC, it looks bad. Goldman will want to make it go away as quickly as it can.

The Securities and Exchange Commission accused Fabrice Tourre, a vice president at the investment firm Goldman Sachs, of defrauding investors in a securities sale tied to subprime mortgages. The SEC's court document, which was filed in U.S. District Court in the Southern District of New York, includes various comments allegedly made by Tourre in which he misled representatives from ACA Management about collateralized debt obligations, or CDOs.

Goldman Sachs shares were the worst hit among stocks in the S&P 500 today, falling 12.8 per cent.
After all this, a wiki page will surely be created.

One wants to be cautious about saying that Goldman Sachs is definitely guilty. Financial crises produce immense political pressure for securities regulators and attorneys general to go head-hunting, and the cases often turn out to be weaker than they seem once the defense gets a chance to speak.

answered by Elias | 04-16-2010 at 08:48 PM

Fabrice Tourre’s role in Goldman Sachs’ scandal – which yesterday saw the bank and Tourre charged with two civil counts of securities fraud – is central to understanding what exactly happened in the marketing of the Abacus fund, and why the world’s biggest bank is now effectively on public trial.

There is no bio page, that's strange.
Here's a picture of Fabrice Tourre.

Fabrice Tourre Goldman Sachs

answered by Armin | 04-16-2010 at 11:27 PM

Case should be against Central Banking, Fiat Money & Artificial Credit
Yes, indeed Elias, thank-you for your comment. This case is more about how the SEC is representing it... it also is odd that is coming out a week before congress is trying to push financial reform through. Fabrice Tourre likely did some questionable, and even possibly misled investors... however this case is pennies compared to the bubble.

He is only 31 years old, been with Goldman only since 2001, looks like they are for sure doing some head hunting. The way they are relaying the information compared to the actual case makes me think they are doing this for other purposes, likely political and to try and show that they are doing their job. Whatever, the ratios are way out of whack.

People should start asking instead what caused the bubble in the first place... and that was caused by Central Banks, specifically the Federal Reserve, stimulating the biggest artificial credit expansion in the history of the world... these guys at Goldman just saw what was coming and created a sophisticated product then likely not entirely prudent with clients.... but they certainly did not create this massive global bubble, you need paper money & artificial credit to do that on this scale.

However, this case is being attached and related to the biggest economic decline since the great depression... give me a break, yeah great work SEC were so proud for all you do...NOT!!! The creation of the massive global bubble from fiat money and massive creation of credit by central banks goes much more to the root, this a 1 billion dollar case.

answered by Aaron | 04-17-2010 at 02:40 AM

Under the doctrine of respondeat superior, Goldman is responsible for Mr. Tourre’s actions — a finding of fraud by Mr. Tourre establishes Goldman’s liability as well. It is clear that he was working to benefit Goldman, so the firm cannot distance itself from him by labeling him a rogue in the hope of avoiding responsibility for his actions.

answered by Guest | 04-20-2010 at 06:56 PM

Aaron, thank you very much for the smart answer and the understanding!

What's going on is absolutely ugly! No resolutions, but just pointing and looking for some victims, usually "convenient" victims to be responsible

answered by Helen | 04-27-2010 at 05:14 PM

Big H
These are an arrogant greedy bunch. How can a civilized society deal with the likes of them, when we have an incompetent, immoral and criminal infested government?

answered by Guest | 04-27-2010 at 06:06 PM

Federal Reserve/Goldman Sachs (What's the difference?)
Aren't many of the Federal Reserve officials former banking executives? Isn't it very customary for many of these people to go back and forth? Wouldn't it be fair to assume the same characters creating the bubble (Fed Reserve), are the same reaping the benefits of the eventual burst (Wall St.)?

Someone please educate me where the Fed stops and Wall St. begins, because it all looks the same to me. The only reason for outrage I notice, is that some of the wealthy were also duped and caught up in this mess.

I notice the tone of many here that would like to make this a Gov't vs. Private Sector issue, but in the case of the Financial World, there is no separation. It's all the same dirty people floating around in the murky pond.

answered by Guest | 12-22-2010 at 05:40 AM

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