Tourre Did Nothing Wrong, Goldman Exec Testifies
Jonathan Egol, a Goldman managing director who worked on Tourre’s trading desk, testified that Tourre stuck with normal industry practices in his work structuring Abacus 2007-AC1, a collateralized debt obligation that closed in 2007.
The U.S. Securities and Exchange Commission claims the product, a bundle of residential mortgage backed securities, was designed to fail...
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