SEC Can’t Blame Goldman For Crashing Economy

Law360, New York (June 11, 2013, 7:54 PM EDT) -- The U.S. Securities and Exchange Commission will not be able to blame big banks for causing the financial crisis in its upcoming trial against the notorious ex-Goldman Sachs Group Inc. trader Fabrice Tourre, a New York federal judge said Tuesday.

U.S. District Judge Katherine Forrest granted Tourre’s request to stop the SEC from delving into the root causes of the financial crisis when it tries him for allegedly lying to Goldman customers about a complicated collateralized debt obligation the investment bank sold in 2007.

Tourre argued...
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