Trader found liable in 2008 financial crisis to teach honors level economics course at Univ. of Chicago
- Fabrice Tourre, former Goldman Sachs trader, was the "only Wall Street banker to be found guilty of any charges having to do with the financial crisis."
- Will teach Elements of Economics Analysis III as part of his Ph.D. studies.
Apparently, six counts of securities fraud doesn’t disqualify a former Goldman Sachs trader from teaching an honors economics course at the University of Chicago this spring.
Fabrice Tourre—or as he called himself in emails to his girlfriend, “Fabulous Fab”—is teaching Elements of Economics Analysis III after working as a trader for Goldman Sachs. Tourre is currently a Ph.D candidate at the University of Chicago's Economics Department, and teaching the honors class is part of his studies.
While he started at Goldman in 2001, he eventually worked his way up to become a vice president at the company before he became what the New Yorker called the “only Wall Street banker to be found guilty of any charges having to do with the financial crisis” of 2008. In August, Tourre was found liable for costing investors $1 billion.
In 2010 the Securities and Exchange Commission (SEC) charged both Goldman and Tourre, who was 31-years-old at the time, resulting in the investment firm paying a $550 million settlement. The settlement did not cover Tourre, who is still fighting to reduce the SEC’s request that he pay more than $1 million in fines.
Wen Huang, a news officer with the University of Chicago, confirmed Tourre's class to Campus Reform but went on to say the university is "not able to offer any other comments at this point."
Via The Chicago Maroon.
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