Wall Street trader goes to trial

Ex-Goldman Sachs trader Fabrice “Fabulous Fab” Tourre will be in court on Monday to face charges of selling bad investments. This will be the first trial of its kind to occur since former hedge fund managers Matthew Tannin and Ralph Cioffi were acquitted of misleading stockholders in 2009. If Tourre is found guilty, he could be stopped from involving himself in the financial industry.

After the economy fell in 2007, many people blamed the actions of Wall Street employees. There have been few trials but a number of fines. Attorney David Marder says, “This is one of the few opportunities that a court has had to punish conduct associated with the financial crisis that put this country into a grave recession.”