long good-byes

Former Goldman Sachs trader Fabrice Tourre has only one tie left to the securities firm where he helped assemble an infamous bond deal: his legal bills. Mr. Tourre no longer works for Goldman, which put him on paid leave after the Securities and Exchange Commission accused him in April 2010 of misleading investors in a collateralized debt obligation called Abacus 2007-AC1. Goldman soon settled related allegations, but Mr. Tourre decided to fight. Since late 2011, Mr. Tourre has been a graduate student in economics at the University of Chicago, and Goldman changed his status to unpaid leave. He left the firm at the end of December 2012, a company spokesman said…The SEC’s lawsuit instantly made Mr. Tourre one of the most memorable names of the financial crisis. In an email to a friend that was disclosed by the agency, Mr. Tourre wrote: “The whole building is about to collapse anytime now … Only potential survivor, the fabulous Fab[rice Tourre] … standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!” [WSJ]

The news of Burnett’s departure from CNBC for CNN broke Wednesday night but apparently she’s been waiting for CNBC president Mark Hoffman to get back from vacation to make it official face to face. While there’s been no indication what EB’s last day on the network will be, we suggest you start thinking now about how you’d like to comfort Mark Haines, who is more than likely an emotional basket case, so you’re ready when the time comes. [BI]

Dear Viking Global Investors

Andreas Halvorsen’s first quarter letter (“we are disappointed with the investment performance”) and the departure speech of David Ott (AH’s “closest partner, trusted-friend and Viking co-founder”).

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