...because, as Goldman Sachs trader 'Fabulous' Fabrice Tourre found out, email can become very public, at least in the U.S.:
"The whole building is about to collapse anytime now," Fabulous wrote in one of the e-mails that have come to light. "Only potential survivor, the fabulous Fab . . . standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!"
Fabulous, in an e-mail from 2007, described the mortgage business as "totally dead, and the poor little subprime borrowers will not last too long!!!" Yet two months later, he boasted that he had managed to dump some more of the worthless mortgage securities on "widows and orphans that I ran into at the airport."
Having just linked to Withnail & I, I suppose there's no way I can deny finding the "widows and orphans" line pretty damn funny.
Fabulous, in an e-mail from 2007, described the mortgage business as "totally dead, and the poor little subprime borrowers will not last too long!!!" Yet two months later, he boasted that he had managed to dump some more of the worthless mortgage securities on "widows and orphans that I ran into at the airport."
Having just linked to Withnail & I, I suppose there's no way I can deny finding the "widows and orphans" line pretty damn funny.
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