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. Mr. Stock Volume May Be First Casualty When Tourre Visits Congress -
Messieurs de Goldman Sachs, c'est quoi cette "merde"? - Great Am. Un régal !
Toute la journée ce mardi, de 10 heures du matin jusqu’à 20h40, sans même une pause déjeuner, les dirigeants de Goldman Sachs ont été à la merci du peuple, via les sénateurs et les caméras de télévision. Cloués dans une petite salle du Capitole, les princes de Wall Street étaient enfin au pilori, interrogés et admonestés par un jury de neuf sénateurs, démocrates et républicains tous aussi coriaces les uns que les autres. Chacun des dirigeants de Goldman avait devant lui un énorme classeur, contenant toutes les preuves assemblées par le Sénat américain en 18 mois d’enquête. On aurait dit que les sénateurs avaient contrôlé leurs devoirs et obligeaient ces vilains garnements à plonger le nez dans leurs classeurs pour voir toutes les fautes et tricheries qu'ils ont commises. Pour revivre l'audition heure par heure, voir les "live-bloggings" de cbs ou du nyt par exemple. « Vous êtes des bookmakers, a lancé la sénatrice démocrate Claire McCaskill. Réagissez à la note.
John Paulson's donations to Carla Bruni could embarrass Nicolas. It transpires that Mr Paulson and his wife, Jenny, pledged to donate €500,000 (£435,000) to Mrs Bruni-Sarkozy's foundation "every year for three years". The gift, from what the first lady's foundation described as a "philanthropic American couple", will go to funding US-French art-exchange projects. Although Mr Paulson is not accused of any wrongdoing, the news is of potential embarrassment to Mr Sarkozy, as he has been on a crusade to "moralise capitalism" since the financial crisis struck. Last month, he lashed out at banks "engaging in proprietary speculation or financing speculative funds". The Paulsons pledged their gift when Mr Sarkozy and his wife, Carla, left were in Washington to meet President Barack Obama. 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.