Originally published on Thu August 1, 2013 4:59 pm
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.
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.
01/21/13 - Monday’s Topical Currents is with Boston College sociology professor Charles Derber, the co-author of THE SURPLUS AMERICAN: How the 1% is Making Us Redundant. Many Americans are rendered jobless, but the authors maintain that this is just the “tip of the iceberg.” They examine the results of the “Occupy Wall Street” movement, as well as how people are forcibly induced to leave the workforce.