Great Recession http://wlrn.org en Former Goldman Trader Found Liable For Billion-Dollar Fraud http://wlrn.org/post/former-goldman-trader-found-liable-billion-dollar-fraud A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.<p>Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.<p>"The U.S. Securities and Exchange claims Tourre hid the role of hedge fund Paulson & Co. Thu, 01 Aug 2013 22:24:34 +0000 Bill Chappell 18381 at http://wlrn.org Former Goldman Trader Found Liable For Billion-Dollar Fraud