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 Originally Posted by January 29th, 2007
"When I think that I had some input into the creation of this product (which by the way is a product of pure intellectual masturbation, the type of thing which you invent telling yourself: "Well, what if we created a "thing", which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?") it sickens the heart to see it shot down in mid-flight...It's a little like Frankenstein turning against his own inventor  "
Originally Posted by March 7th, 2007
"... I will give you more details in person on what we spoke about but the summary of the US subprime business situation is that it is not too brilliant...According to Sparks [Daniel Sparks, a former head of the mortgages department at Goldman], that business is totally dead, and the poor little subprime borrowers will not last so long!!!...I do not intend to wait for the complete explosion of the industry and the beginning of distressed trading, I think there might be more interesting things to do in Europe..."
BBC News - Goldman Sachs: Fabrice Tourre's private emails
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