One of the emails Tourre writes (pg 100) is to a woman named Fatiha Bouktouche. It’s his ex-girlfriend.
(We aren’t sure if this is her, but she’s the only one listed on Facebook. We’ve contacted her to find out.)
Because what Tourre writes to Bouktouche (at least, the translation of what he writes to her. His original emails are in French.) is informative, we imagine she might be required to testify at some point.
“I’m trading a product which a month ago was worth $100 and which today is only worth $93 and which on average is losing 25 cents a day…it adds up to a lot of money….
“When I think that I had some input into the creation of this product (which by the way is a product of pure intellectual masturbation, the type of thing which you invest 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?”) it sickens the heart to see it shot down in mid-flight…It’s a little like Frankenstein turning against his own inventor ;)”
This part of the email might actually help Tourre’s case:
I had some input into the creation of this product,” he writes. “It sickens the heart to see it shot down in mid-flight…It’s a little like Frankenstein turning against his own inventor.”
It could be interpreted to mean that he wasn’t sure the product would fail when he created it. We’re not sure which product he’s talking about, but he seems stressed and sad when it starts to fail, so it might be interpreted, importantly, to mean that he didn’t design it to fail.
Of course it could also mean he knew he created a monster. (See more of his emails.)
That’s why Fatiha Bouktouche’s testimony (and her informed interpretation of what he meant) might be important.
By the way, Tourre also wrote an important email to his girlfriend after Fahita, Marine Serres. The infamous Fabulous Fab email.
Brush up on the SEC’s case against Goldman and Fabrice Tourre –>
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