Breaking news in the financial world is that the Securities and Exchange Commission has filed a civil fraud complaint against Goldman Sachs and one of their vice presidents by the name of Fabrice Tourre. He is a French national who graduated from Stanford University and has been working at Goldman Sachs a leading financial Wall Street firm since July of 2001.
The charges concern the creation and sale of mortgage securities, “failing to disclose vital information to investors regarding a collateralized debt obligation that one of its clients helped create, and then shorted”.
So far there has been no comment from Goldman Sachs. The Securities and Exchange Commission has reported that Tourre to be responsible for the fraud by saying, “Tourre structured thSo far e transaction, prepared the marketing materials, and communicated directly with investors”.
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