Trial of ex-Goldman trader about ’Wall Street greed’: SEC

The trial of former Goldman Sachs bond trader Fabrice Tourre was about “Wall Street greed,” a lawyer for the US Securities and Exchange Commission said as the trial began on Monday.

The SEC accuses Tourre of misleading investors in a mortgage investment called Abacus 2007-AC1 by not telling them that a hedge fund was involved in selecting the underlying assets and betting against it.

via Business feed http://www.scmp.com/business/banking-finance/article/1283742/trial-ex-goldman-trader-about-wall-street-greed-sec