Our time line got several thousand extra views last week – with a few new readers visiting FamousDC from NYC.
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Monday, April 26
We’ve gone from a Friday SEC lawsuit against Goldman Sachs,
SEC Charges Goldman Sachs With Fraud in Structuring and Marketing of CDO Tied to Subprime Mortgages
POLITICO’s Mike Allen: When you type “Goldman Sachs SEC” into Google, the results include an ad for Wall Street reform, paid for by the Democratic National Committee.
A senior attorney at the SEC’s Washington headquarters spent up to eight hours a day looking at and downloading pornography. When he ran out of hard drive space, he burned the files to CDs or DVDs, which he kept in boxes around his office. He agreed to resign, an earlier watchdog report said.
we met a trader named “Fab” (seriously)
You can’t make this stuff up — from the school-girl-diary triple exclamation points to Tourre’s seeming admission that even he did not understand the complexities of the “monstrosities” that he was peddling. But what lingers in memory and adds a human element to the scandal was Fabrice Tourre, then in his late 20s, billing himself as the “fabulous Fab.” No phrase better conveys the arrogance and grandiosity of youthful Wall Street hotshots out to play the world for suckers in their quest for eight-digit annual incomes.
and all of this madness led Saturday Night Live.