Goldman's "Fabulous Fab" Goes On Trial In New York For Misleading Clients

"Fabulous Fab" is headed to court on Monday, but he has a better chance of winning than his former clients did, according to charges from the Securities & Exchange Commission. Fabrice Tourre, a former trader for Goldman Sachs Group Inc. (NYSE:GS), is accused of selling securities while knowing they were overrated and dangerous. The SEC's case is viewed by many observers as the latest step toward holding Wall Stree responsible for its excesses that helped lead to the financial crisis.