Saturday, April 24, 2010

Goldman Email Describes ‘Frankenstein’ Derivatives; Tourre Brags about Selling Abacus to "widows and orphans"; SEC Confident;German Bank Drops Goldman

Goldman Sachs claims it it dis not mislead clients. Its defense will not be very convincing in the face of revealing emails with "fabulous Fab" bragging about dumping Abacus bonds on widows and orphans.

Please consider Goldman’s Tourre E-Mail Describes ‘Frankenstein’ Derivatives http://www.bloomberg.com/apps/news?pid= ... lUMg&pos=2

Fabrice Tourre, a Goldman Sachs Group Inc. executive director facing a fraud lawsuit in the sale of a mortgage-linked investment, said an index that facilitated derivatives trading in the market was “like Frankenstein.â€