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"Fabulous Fab" Fired From Financial Faculty

Tyler Durden's picture




 

Just six brief days after we discussed the somewhat stunning fact that none other than Fabrice "Fabulous Fab" Tourre was set to each an economics course at the University of Chicago, it appears the prestigious school has had second thoughts. As WSJ reports, a university spokesman explained, "as preparations continue for the Spring Quarter, Fabrice Tourre will no longer be assigned as an instructor for Honors Elements of Economic Analysis," decling to comment on the specifics of the sudden change. We are sure there is an 'ethics' course that needs a TA.

Via WSJ,

Mr. Tourre, the former Goldman Sachs trader found liable for defrauding investors, will no longer teach an honors economics course to undergraduate students at the University of Chicago. The move is an abrupt change, considering Mr. Tourre , nicknamed as the “Fabulous Fab,” had been slated to begin teaching the course during the spring quarter, which begins later this month.

 

As preparations continue for the Spring Quarter, Fabrice Tourre will no longer be assigned as an instructor for Honors Elements of Economic Analysis in the College,” Jeremy Manier, a university spokesman, said in an email to MoneyBeat. “Instead he will be able to fulfill the teaching requirements for his Ph.D. program through opportunities in his department’s graduate-level curriculum.”

 

Mr. Manier declined to comment on the sudden change.

Shame really... Still, who needs an economics class anyway?

 

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Tue, 03/04/2014 - 18:35 | 4509394 bearish1
bearish1's picture

Who would teach fraud better than him?! 

Tue, 03/04/2014 - 18:44 | 4509429 TideFighter
TideFighter's picture

University of Chicago???? Where Barry O'tool taught constitutional law?? 

I guess one infamous graduate alumni is enough.

 

Tue, 03/04/2014 - 18:55 | 4509460 ZerOhead
ZerOhead's picture

Is he going to receive a Goldma... errr... golden parchute?

Wed, 03/05/2014 - 01:21 | 4510639 SafelyGraze
SafelyGraze's picture

yep

Tue, 03/04/2014 - 19:22 | 4509548 AlaricBalth
AlaricBalth's picture

"I was a constitutional law professor, which means unlike the current president I actually respect the Constitution."
Barack Obama

Uh....OK....Whatever...

Tue, 03/04/2014 - 21:01 | 4509936 Colonel Klink
Colonel Klink's picture

Barack has been lying his entire life.

Tue, 03/04/2014 - 20:06 | 4509746 JLee2027
JLee2027's picture

He's perfect. We do need new titles though for those that teach fraud. May I suggest:

 

1) The Despicable - only one conviction.

2) Corozoner - multiple convictions.

3) Obamanest - the hat trick for the worst of the worst.

 

 

Tue, 03/04/2014 - 21:49 | 4510071 californiagirl
californiagirl's picture

When his finishes his PhD, he will fit right in with other scheister economists like Krugman.

Tue, 03/04/2014 - 18:35 | 4509396 Bangin7GramRocks
Bangin7GramRocks's picture

One thousandth of one percent of my faith in humanity has been restored. Long way to go though.....

Tue, 03/04/2014 - 21:28 | 4510001 logicalman
logicalman's picture

You are obviously an optimist.

Tue, 03/04/2014 - 18:36 | 4509400 The Most Intere...
The Most Interesting Frog in the World's picture

A shame it was such a great idea...  they should have just delayed it for a year...

Tue, 03/04/2014 - 20:03 | 4509739 jcaz
jcaz's picture

Well played, dude.....

Tue, 03/04/2014 - 18:39 | 4509402 ZH Snob
ZH Snob's picture

I heard he had plans to leverage the coffee fund.

Tue, 03/04/2014 - 18:50 | 4509412 Rainman
Rainman's picture

He ain't fit to teach the younguns soooo ...

 just give him a Ph.D and send him on his way.... the Chicago way !

Tue, 03/04/2014 - 18:39 | 4509415 Tydown4fun
Tydown4fun's picture

I would humbly like to think that the heated email I sent had some small impact.  Grins!

Tue, 03/04/2014 - 18:43 | 4509425 williambanzai7
williambanzai7's picture

Tue, 03/04/2014 - 18:46 | 4509432 RaceToTheBottom
RaceToTheBottom's picture

Is that available on IPAD?

In Russian?

Tue, 03/04/2014 - 19:15 | 4509534 Captain Willard
Captain Willard's picture

So here we go with a sample U of C MBA schedule abd Instructors for Fall 2014:

(everyone can play)

Business Ethics 101: Raj Rajaratnam

Symposium on Effective Organizational Structure: Stephen A Cohen

Advanced Topics in Accounting: Bernard Madoff

Principles of Systems Management: Kathleen Sebelius

Mergers and Acquisitions: Vladimir Putin

Tue, 03/04/2014 - 19:49 | 4509676 williambanzai7
williambanzai7's picture

Advanced Crypto Derivatives Strategies: 

Tue, 03/04/2014 - 19:56 | 4509712 Tall Tom
Tall Tom's picture

Fonestar?

Tue, 03/04/2014 - 20:04 | 4509749 logicalman
logicalman's picture

He'd do better in a religion class given his deification of Satoshi

Tue, 03/04/2014 - 20:04 | 4509751 jcaz
jcaz's picture

Naw-  Fonestar's mom.....

Tue, 03/04/2014 - 20:14 | 4509794 medium giraffe
medium giraffe's picture

WB - does Janet know you still have her book?

Tue, 03/04/2014 - 23:17 | 4510347 jez
jez's picture

Janitor: Ben Franklin.

Tue, 03/04/2014 - 18:46 | 4509433 Peter Pan
Peter Pan's picture

I think there is nothing wrong with the man teaching economics classes...............in jail.

Tue, 03/04/2014 - 20:05 | 4509757 logicalman
logicalman's picture

It has been said that people going to jail just become better criminals, so I guess that fits.

Tue, 03/04/2014 - 20:45 | 4509899 MeelionDollerBogus
MeelionDollerBogus's picture

so when do we delivery the Nobel for Economics to Professor Madoff?

Tue, 03/04/2014 - 18:47 | 4509439 NOTaREALmerican
NOTaREALmerican's picture

Looks like the smart-n-savvy people will be sending their kids to Harvard instead.

Tiffany,  the Harvard faculty is outstanding.   They are just like like us.

Tue, 03/04/2014 - 18:48 | 4509444 SlipStitchPass
SlipStitchPass's picture

FYI...word on the street is that TULVING went dark today. If he goes BK then any deliveries in the past 90 days may be subject to clawback. Just one more con artist....

Tue, 03/04/2014 - 18:53 | 4509455 TideFighter
TideFighter's picture

Tulving has had a thirty-year history of dirty dealings. Why in the fuck would anybody order anything from him???

Tue, 03/04/2014 - 19:38 | 4509615 SlipStitchPass
SlipStitchPass's picture

That is a good question.

Tue, 03/04/2014 - 20:44 | 4509896 MeelionDollerBogus
MeelionDollerBogus's picture

subject to non-delivery & a huge headache is more like it, lots of screaming.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/24_Is_A_Popular_Precious_Metals_Dealer_Stealing_Peoples_Money.html
http://golddealerreviews.com/reviews/gold-dealers/3-tulving
Tulving's web site is up. I never made an order so I wouldn't call to verify further details. Smells bad, going elsewhere.

I've had prompt & good delivery, everytime, from Silvergoldbull.com

Tue, 03/04/2014 - 18:54 | 4509458 ShrNfr
ShrNfr's picture

Ya gotta have standards at the school where Obama taught ya know...

Tue, 03/04/2014 - 19:15 | 4509530 Cacete de Ouro
Cacete de Ouro's picture

The University of Chicago. Where 'very large' donations put your name up in lights...

/cough
Booth School of Business
/cough

Tue, 03/04/2014 - 19:14 | 4509531 Joebloinvestor
Joebloinvestor's picture

He got transferred to the french dept.

Ya gotta speak the lingo if you want to sell shit to suckers.

Why else do you think GS hired him? 

Tue, 03/04/2014 - 19:29 | 4509570 Rising Sun
Rising Sun's picture

Fuck you and your family "Fabulous Fab" Tourre you piece of dried up shit!!!!!!

Tue, 03/04/2014 - 19:38 | 4509617 Blankenstein
Blankenstein's picture

So did he include this on his college application?

 

"The SEC sued Goldman and Mr. Tourre, then a vice president, in April 2010, alleging they misled investors on a collateralized-debt obligation called Abacus 2007-AC1that produced big losses for investors and big gains for hedge-fund firm Paulson & Co. A collateralized-debt obligation, or CDO, pools loans, such as subprime mortgages, with slices of the security sold to investors."

http://online.wsj.com/news/articles/SB1000142412788732447400457844508356...

 

And he will still be getting his PhD and teaching graduate-level courses.  Wow.  Unbelievable.

 

"But on August 1st a jury in a Manhattan federal court found him liable on six counts of securities fraud—including one of “aiding and abetting” his former employer, Goldman Sachs"

"Mr Tourre for his role in misleading investors about a complex security, called Abacus, which caused three financial firms to lose $1 billion. "

 

http://www.economist.com/news/finance-and-economics/21583286-verdict-aga...

 


I wonder what university will hire him as a professor?

Tue, 03/04/2014 - 19:40 | 4509628 lotsoffun
lotsoffun's picture

but - he is a GENIUS - and he should teach.  because modern investment banking is very simple, if you can understand it.

by low

sell high

in between - lie

 

Tue, 03/04/2014 - 19:49 | 4509675 Blankenstein
Blankenstein's picture

Don't confuse a lack of morals and a willingness to break the law with genius.  If he was indeed so intelligent, he could make a great deal of money without committing fraud.

Tue, 03/04/2014 - 20:09 | 4509769 logicalman
logicalman's picture

When the 'market' is based on fraud, genius doesn't cut it.

Tue, 03/04/2014 - 19:47 | 4509665 MeelionDollerBogus
MeelionDollerBogus's picture

Maybe Fabio here can start up a new bitcoin bank!

Tue, 03/04/2014 - 19:49 | 4509678 logicalman
logicalman's picture

Here's how he should be fired - as a test shot for the rest of the criminal cartel.

Short range rock face or something.

Just a thought.

http://images.nypl.org/index.php?id=1653482&t=w

Tue, 03/04/2014 - 19:52 | 4509688 monad
monad's picture

SPECTRE is hiring.

Tue, 03/04/2014 - 19:53 | 4509702 cheetahbaby
cheetahbaby's picture

Went to U of C for six years as a graduate student in the early '80's. In recent years they've gone full retard on diversity. With the exception of Booth, which obviously has issues of its own, the place has morphed into a citadel of left-wing foppery. Having helped launch Barry, they'll never get a dime of my money. Sad.....

Tue, 03/04/2014 - 20:10 | 4509781 MeBizarro
MeBizarro's picture

University of Chicago is a left-wing oriented economic school of thought?  You won't find a more right-of-center economics department in the country with the possible exception of George Mason. 

Hardly say the U of C eitehr is a 'left-wing foppery' either looking at who funds them from a corporate perspective. 

Tue, 03/04/2014 - 20:17 | 4509806 Clowns on Acid
Clowns on Acid's picture

ahhhmmm... you are about 10 to 15 years behind the curve.

Tue, 03/04/2014 - 20:23 | 4509826 cheetahbaby
cheetahbaby's picture

MeBiz, next time take the course in effective reading. I said with the 'exception' of Booth.... And, yes, do take a look behind the curtains at some of their donars. What kind of place employs the Bamster, Wookie, and Jarrett???

Tue, 03/04/2014 - 20:09 | 4509774 logicalman
logicalman's picture

If he has any sense, he hid his ill-gotten gains carefully.

He should be able to live well for the rest of his life.

If this is not the case, then he's no genius

Tue, 03/04/2014 - 20:12 | 4509784 MeBizarro
MeBizarro's picture

Even the biggest free market pimps & pushers around wouldn't let him teach after the public outcry slammed them too much. 

Tue, 03/04/2014 - 20:22 | 4509823 Clowns on Acid
Clowns on Acid's picture

How does one teach "economics" these days?

  1. Print
  2. Print Moar
  3. Announce Taper
  4. Un announce Taper
  5. Spend defcit of $ 1 Billion / year.
  6. Cut deficit but Print MOar.

Economics has become very "complicated" these days

Tue, 03/04/2014 - 20:30 | 4509853 22winmag
22winmag's picture

Huh? He is eminently qualified to teach them yutes.

 

Fraud isn't just part of the system, it is the system! -Max Keiser

Tue, 03/04/2014 - 20:30 | 4509854 khakuda
khakuda's picture

Maybe Andy Fastow or Jeff Skilling got out of jail and is available?

Tue, 03/04/2014 - 21:17 | 4509980 Coldfire
Coldfire's picture

It is incredible that this guy put himself forward in the first place. All hubris, no shame and no sense.

Tue, 03/04/2014 - 22:35 | 4510227 logicalman
logicalman's picture

Just looking in the Banksters Dictionary......

Shame........

Nope, looked all through 'S' - no reference to the word.

Tue, 03/04/2014 - 23:25 | 4510379 Downtoolong
Downtoolong's picture

It sounds to me like someone at Goldman had a little talk with the Dean.

Like, we need to keep this guy buried you know. We can’t afford anymore credible high-profile truthiness from these guys who expose our business practices to the world. And, it just wouldn’t look right for us to hire any of your graduates who took his course, you know what I mean? I think you know what I mean.  

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