Take an Econ Class With “Fabulous Fab”

Fabrice Tourre, better known as “Fabulous Fab,” has had a busy few years.  While Tourre’s employer, Goldman Sachs, settled with the S.E.C. (to the tune of a $550 million penalty), the trader refused to settle and fought the suit, while simultaneously  pursing a Ph.D. in economics at the University of Chicago.  Last year, a federal jury found the trader liable on six counts of securities fraud.  The Chicago Maroon reports that undergraduate students in the University of Chicago’s economics department can take a class with Tourre this spring:

With spring quarter class bidding opening next week, Economics students have the option to take the honors section of Elements of Economics Analysis 3 taught by Economics Ph.D. student Fabrice Tourre.  While students might not be calling him “Fabulous Fab” in the classroom, he is notable in the financial world as the former Goldman Sachs trader found liable this past August on six of seven counts of securities fraud for misleading investors in a complex investment product linked to mortgages.

(HT: SP)

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  1. Mikemenn says:

    This brings up a good question, do you or your constituency have any recommendations for econ. classes on itunes University? Any teachers, classes or presentations that give good “freakonmics” economics principals? (besides your podcast, of course, which is totally bitchin’.)

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  2. Bill Springer says:

    Somehow I don’t think that I’d want my kids taking an Econ class at U of C from a convicted felon. There are other qualified Ph.D candidates available.

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  3. caleb b says:

    It is interesting that he’s receiving this forum, but a lot can be learned from fraudsters. Even Frank Abignale was able to turn his fraudster life into a successful consulting firm.

    When I was in undergrad, Walter Pavlo – a former exec at MCI, came and spoke to the business school about the fraud he helped perpetrate that generated $6 million into off-shore accounts.

    After hearing his tale, I have to say, his argument for why he did it was pretty convincing. He noted that the company was complicit in the fraud because it knew it was carrying bad debt on its books and refused to count the losses to keep up appearances. All he did was skim some of the money that they were not going to try to collect anyway. I would have gladly taken an entire class on his lecture.

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  4. Jason says:

    @caleb, @UChicago: …and America wonders how corruption of such magnitude, as the recent recession so blatantly reveals, could even take place at all. We teach our business and economy students that ethics and morality are relative then point the finger at them when thy simply follow through with what was taught to them? Absurd.

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    • My name says:

      Funny, I don’t remember any coursework on moral or ethical relativism while getting my U of C MBA. On the subject of Fabrice Tourre: what’s the guy supposed to do, forsake all material goods and become a monk? He seems pretty smart and may actually be a good teacher. He screwed up, should feel bad, needs to do his penance, and then he should be able to get on with his life.

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