Wall Street's most embarrassing emails
1. I'm the sole survivor
Set-up
In early 2007, the housing market appeared to be on a permanent high. In fact, most homeowners and investors had little clue the market was about to topple like a house of cards. Based on an email sent to a friend, at least one person was aware that all was not right. Goldman Sachs VP Fabrice Tourre apparently had a good idea what was coming —and allegedly was betting on the coming meltdown, despite also flogging a CDO to investors. Again, notice the punctuation.
Punch
'More and more leverage in the system. The whole building is about to collapse anytime now...Only potential survivor Fabulous Fab[rice Tourre] standing in the middle of all these complex, highly leverage, exotic trades he created without necessarily understanding all of the implications of those monstrosities!!!'
Advertisement
