You knew Goldman the ‘vampire squid’ since Matt Taibbi’s piece, but do you know Sachs its schizophrenic other? Was Fabrice Tourre Cheating On His Girlfriend? Are CDOs Really N. Zero Hedge is currently going through the 100 or so pages of just released Goldman emails that disclose in excruciating detail the events from late 2006 to late 2007 occurring in Goldman's mortgage trading business.
We will have a lot more to say on this tomorrow, suffice to say that we were pleasantly surprised that C-BASS, which we uncovered recently may be implicated in the Goldman SEC fraud scandal, is again involved. We also feel bad for Harvard and MS Prop, and a little better for Hayman Capital. Stay tuned. In the meantime, we will take a brief detour into the financial yellow pages, as we focus on the curious case of Fabrice Tourre, who once again plays a prominent role in today's email discovery. The first thing that caught our attention is the original "Fab Fab" email, finally reproduced in its entirety.
We recreate the original email: The first thing to note here is the biographical details on Ms. It may be interesting to get some insight into just who Ms. The Atlantic Reports That Deutsche Bank Also Sold Paulson-Select. Read Fabrice Tourre’s Senate Testimony - Deal Journal. Chairman Levin, Dr.
Coburn and Members of the Subcommittee. My name is Fabrice Tourre, and I work at Goldman Sachs International in London. Thank you for the opportunity to appear before the Subcommittee. I have worked at Goldman Sachs since 2001. Between 2004 and 2007, my job was primarily to make markets for clients. The structured products on which I worked fill an important need for these sophisticated financial institutions. Mr. Since the suit was filed, there have been many questions raised about the 07 AC-1 transaction and my role in it.
First, the only two investors in this transaction, ACA and IKB, were institutions with significant resources and extensive experience in the CDO market. According to IKB, as of January 2007, they had launched and managed more than $16.8 billion of CLOs and CDOs and viewed securitizations and CDO investments as an integral part of their business model. Third, the AC-1 transaction was not designed to fail. Stock Volume May Be First Casualty When Tourre Visits Congress - Messieurs de Goldman Sachs, c'est quoi cette "merde"? - Great Am. John Paulson's donations to Carla Bruni could embarrass Nicolas. Goldman Sachs Has First Perfect Quarter With Zero Trading Loss -
Exclusive: US Probes Goldman's Timberwolf Deal, Alleged Victim S. The federal prosecutors investigating Goldman Sachs are focusing on Timberwolf, the infamous "shitty deal" repeatedly cited in a tense Senate hearing last month, according to people who have been contacted by the Manhattan U.S.
Attorney's office. The probe raises the possibility of criminal charges against the storied Wall Street firm, which was charged in April by the U.S. Securities and Exchange Commission with civil fraud for allegedly misleading investors about another subprime mortgage-related security called Abacus. Investigators from the U.S. Attorney's office have reached out to individuals involved in the deal, including David Mapley, the former independent director of an Australian hedge fund who claims that the firm collapsed shortly after Goldman sold it $100 million of securities in Timberwolf, a $1 billion collateralized debt obligation. In an interview with the Huffington Post from his office in Geneva, Mapley said that he has been contacted by the U.S.