Fraudster Fabrice Tourre Now Teaching at University of Chicago

By: Wednesday March 5, 2014 3:18 pm

The University of Chicago has always been notorious for lacking integrity – intellectual and otherwise. Founded by oil monopolist and banker John D. Rockefeller, the University of Chicago has been the hell-mouth for Neoliberal quackery for generations perhaps most notoriously as patient zero for Professor Eugene Fama’s virulent “efficient market hypothesis” – a theory that helped justify the reckless deregulation that crashed financial markets in 2008.

Now U of C is getting another free market apologist, this one with real credentials – Fabrice “the Fabulous Fab” Tourre.

 

Goldman Sachs Trader Found Liable For Fraud That Contributed To Financial Crisis

By: Friday August 2, 2013 6:40 am

Fabrice “Fabulous Fab” Tourre was found liable by a jury of six counts of civil securities fraud. Tourre was at the center of Goldman Sachs’ trading in the mortgage backed security market in which Goldman Sachs helped sell poorly constructed frankenbonds made up of various people’s mortgages known as Collateralized Debt Obligations or CDOs to clients while simultaneously betting on those CDOs to fail.

NYT: Goldman Senior Execs Oversaw the Mortgage-Based CDOs After Choosing Policy to Short Market

By: Monday April 19, 2010 6:03 am

The New York Times has a potentially explosive story today indicating Goldman Sach’s top executives personally oversaw the mortgage-securities trading unit that created the Abacaus deals and had decided to go short the market. But what did it tell shareholders?

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