Fabulous Fab and Obama’s Promise
Gregg Fields from Harvard’s Lab writes on the prosecution of Goldman Sachs’ Fabrice Tourre. When the housing bubble burst, many lost a lot and few earned obscenely much through a security called ABACUS 2007-AC1 which Tourre helped engineer. At the time, he was a mere foot soldier and senior management had to and did approve everything. Fields asks, why the Securities and Exchange Commission (SEC) keeps going after the little fish and lets their fishmasters get of the hook rather easily.
An unrelated article over at Techdirt asks what happened to Obamas election campaign promise to protect whistlblowers. The interesting bit from Obama’s ethics agenda read