Fabrice Tourre, the now-suspended Goldman Sachs trader, is scheduled to testify before the US Senate later today. Goldman Sachs has suggested that if any wrongdoing occurred in the Abacus deal co-engineered with hedge fund manager Paulson & Co., the blame lies with Tourre.
Tourre was fingered soon after the Securities Exchange Commission (SEC) announced it was investigating the deal. Several of Tourre’s emails were leaked to the press and these suggested that he understood the potential for the deal to trigger massive losses.
Source: Reuters
