Fabrice “Fabulous Fab” Tourre has bitten his tongue again, after it was revealed in an e-mail that he likened the debt instruments he created to, “pure intellectual masturbation,” according to the Times of London.
He also said that his creation was “a ‘thing’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price.”
While the SEC’s release of a full e-mail between Fabrice Tourre and his girlfriend did much to make the man look more sincere, these latest revelations will heap pressure on the Goldman Sachs market-maker as his Senate hearing looms.
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