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Goldman Sachs Group Inc. had a clear strategy of shorting the collapsing mortgage market and made $3.7 billion through the tactic, Senate investigators said, setting up a showdown with Goldman executives testifying before a Senate subcommittee Tuesday. Goodness, Head Vampire Squid Lloyd Blankfein had best be careful he doesn’t – inadvertently of course – [...] After a fun day swindling widows and orphans, the Fab One enjoys sky diving, hoping maybe he could land atop an cripple or two. Fabrice Tourre, the central figure in the unfolding Goldman Sachs fraud story, bragged about selling Abacus bonds he knew to be garbage to “orphans and widows” seemingly chuckling to himself [...] From Goldman’s statement this morning “The core of the SEC’s case is based on the view that one of our employees misled these two professional investors by failing to disclose the role of another market participant in the transaction.” This directly targets Fabrice Tourre, the wunderkid who at age 28 put together the toxic glop [...] |  | ||||
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