"Stock Volume May Be First Casualty When Tourre Visits Congress" (Levin, elect)
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Equities volume may suffer as investors tune in for [Fabrice] Tourre [of Goldman Sachs]'s appearance before the Senate Permanent Subcommittee on Investigations sometime after 10 a.m. in Washington. Tiger Woods’ Feb. 19 press conference on his marital troubles pushed New York Stock Exchange trading to the lowest level of the day.
.... The Securities and Exchange Commission sued New York-based Goldman Sachs and Tourre for fraud on April 16, saying they misled investors about a collateralized debt obligation sold in 2007 as the subprime- mortgage boom was ending.
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The documents set up a showdown on Capitol Hill today between Levin’s panel and seven current and former [employees of "the world's most profitable securities firm"]. Chief Executive Officer Lloyd Blankfein, 55, and Tourre, 31, are among those set to answer questions.
Lets see if our elected officials are truly fighting for us or is it all a show?
I will go with the safe bet in the latter.
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