BUSINESS

Fabrice Tourre Goldman Sachs Trial: The SEC Nails a Minnow While the Whales Go Free

08/06/2013 04:41 pm ET | Updated Oct 06, 2013
AP

Last week, a jury in New York City convicted former Goldman Sachs trader Fabrice Tourre on six civil counts of securities fraud, for selling a toxic mortgage-backed bond to investors without disclosing that an architect of the deal, hedge fund Paulson & Co., also bet on its failure. This victory for the Securities and Exchange Commission signifies a long-awaited measure of justice for the unbridled greed and dirty dealing that sparked the financial crisis, but an exceedingly small one.

Read more on The New Republic

Suggest a correction