Skip to main content


March 12, 2014

Better Markets Statement on Ex-Goldman VP Fabrice Tourre’s $825,000 Fine

Earlier today, a New York federal court ordered former Goldman Sachs Vice President Fabrice Tourre to pay $825,000 for violating federal securities laws and defrauding investors in connection with Goldman’s infamous Abacus derivatives deal with hedge fund manager John Paulson. Dennis Kelleher, President of Better Markets, a nonprofit organization that promotes the public interest in the financial markets, issued the following statement:

“Obtaining a big fine against one low level Goldman vice president, however much deserved, cannot hide the indefensible record of failure at the SEC and the Department of Justice to charge a single senior executive at any Wall Street bank for causing the worst financial crash since 1929 and the worst economy since the Great Depression of the 1930s. Systemic recklessness, fraud and criminality on Wall Street were at the core of the crash and crisis, which didn’t happen because of one junior employee at one bank. History will judge prosecutors and regulators harshly for abdicating their duty to enforce the law without fear or favor on Wall Street as they do on Main Street.” 

Press Releases


For media inquiries, please contact us at or 202-618-6433.

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today