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Goldman’s Tourre E-Mail Describes ‘Frankenstein’ Derivatives

04-25-2010 • Bloomberg.com

The so-called ABX index is “the type of thing which you invent telling yourself: ‘Well, what if we created a ‘thing,’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?’” Tourre said in a Jan. 29, 2007, e-mail released yesterday by Goldman Sachs. Watching the index fall is “a little like Frankenstein turning against his own inventor.”

2 Comments in Response to Goldman’s Tourre E-Mail Describes ‘Frankenstein’ Derivatives

Comment by Powell Gammill

Entered on: 4/26/2010 6:03:53 AM

It's good to be king:

http://www.reuters.com/article/idUSTRE63M3X820100423

Comment by Powell Gammill

Entered on: 4/25/2010 8:59:24 PM

http://www.mcclatchydc.com/2010/04/24/92812/goldman-e-mails-we-made-money.html

with video:

http://www.mcclatchydc.com/2009/12/30/81465/goldmans-offshore-deals-deepened.html

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