Only one of the five Goldman Sachs employees who cooperated with the SEC to form their case has left the company. Her name is Gail Kreitman and she left last summer, according to Reuters.Melanie Herald-Granoff, Michael Nartey, Fabrice Tourre, and David Gerst, who also provided documents to the SEC all remain with Goldman.
Kreitman’s name only came out in Goldman’s defence documents. Before, her emails were only attributed to an anonymous Goldman Sachs employee. Not that her name has helped us find out much about her. Aside from various political (Democrat) and disease-related (Parkinsons’s) donations where we find her name, the internet seems to be wiped clean of information about her.
Kreitman’s emails are the key documents that the SEC has against Goldman. On January 14, she received an email from the head of ACA’s CDO Asset Management business, Laura Schwartz, that said:
“I certainly hope I didn’t come across too antagonistic on the call with Fabrice [Tourre] last week but the structure looks difficult from a debt investor perspective. I can understand Paulson’s equity perspective but for us to put our name on something, we have to be sure it enhances our reputation.”
Kreitman then forwarded this email to Tourre.
Goldman’s lawyers say that just because Schwartz wrote, “I can understand Paulson’s equity perspective,” and Kreitman didn’t correct Schwartz, that doesn’t mean she intended to mislead ACA.
“The fact that Ms. Kreitman did not correct Ms. Schwartz’s statements that Paulson was an equity investor does not indicate that she attempted to conceal the truth from ACA,” the lawyers told Reuters.
They say Kreitman was merely an “intermediary” whose main job was to “manage the relationship for ACA.” She also might not “understood the significance of Ms. Schwartz’s statements suggesting she believed Paulson to be an equity investor.”
As far as her qualifications go, Kreitman is listed as a Director, Board Member or Officer in the company’s 2006 Annual Report, and a Managing Director in 2007. We don’t know her exact role when she left last year and Reuters says she is a “former bond saleswoman.”
For what it’s worth, thanks to Zerohedge, we did find her husband’s, Jeffrey Toll’s, Bloomberg profile.
He co-founded C-BASS, a RMBS investing company: “C-BASS was a leading issuer, servicer, and investor specializing in credit-sensitive residential mortgage assets. These assets included performing subprime and Alt A, nonperforming, reperforming, second lien and small commercial loans, as well as subordinated and mezzanine RMBS with prime, subprime, Alt A and high LTV collateral.
“It currently is liquidating its existing portfolio and returning the cash proceeds received to its lenders and investors.”
Interestingly, ACA’s Laura Schwartz is also not with her company any more. The Financial Times says she left ACA in 2007.
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