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Fabrice Tourre, the Goldman Sachs employee at the center of an SEC investigation, may have been denounced in Senate hearings, but he’s being lauded on Wall Street. What gives?

…This fascination with Tourre also spells disaster for transforming or regulating Wall Street. The future Fabulous Fabs of the world will not be deterred by this case, says Wall Street historian Charles Geisst, because this line of work will continue to appeal to those who want to make piles of money or develop financial products in lieu of curing cancer, building bridges, or marketing tangible products. To the bankers, Tourre’s e-mails in which he expresses doubt about the validity of the products he’s selling only make him that much more likable. “The fact that his e-mails have a slight sarcastic bentd to them makes them more noteworthy,” says Galinsky. “He’s not just a machine. He has a playful nature. At some level, the tone mitigates it. At some level, it makes it more horrific.”…

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"Fabulous Fab" is the Most Popular Guy on Wall Street

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This entry was posted on Wednesday, May 5th, 2010 at 10:29 pm and is filed under News. You can follow any comments to this entry through the RSS 2.0 feed. You can leave a comment, or trackback from your own site.