Tourre Juror: 'We Saw Goldman As The Bigger Problem' | WAMU 88.5 - American University Radio
Filed Under:

Tourre Juror: 'We Saw Goldman As The Bigger Problem'

Play associated audio

Beth Glover was a juror on the trial of former Goldman Sachs trader Fabrice Tourre. When the lawyers were discussing the mortgages tied to the securities at the center of the case, Glover realized that, for all intents and purposes, they were talking about her mortgage.

"When they were looking at the subprime mortgage groupings, I think I would have been in one of those," Glover told me. "I didn't have as great as FICO score at that time."

Glover's an Episcopal priest. She says she saw the devastation the financial crisis caused to her parishioners. They lost homes and jobs. Church programs had to be cut for lack of funds.

Another juror I spoke with, Dylan Maxwell, said he might still be underwater on his mortgage. (He hasn't checked recently.) But, he says, when it came time to deliberate, it was not Wall Street on trial. It was just Fabrice Tourre.

"We didn't feel any malice towards him. We felt sympathy at times," Maxwell told me. "We saw Goldman as the bigger problem. And the whole system as a bigger problem."

Glover agrees. She said she'd like to see some of the people above him put on trial. Tourre seemed to her like a scapegoat.

"The problem with just going after Fabrice Tourre or going after the different sort of Fabrice Tourres that are in all of these banks is that it doesn't change the system," she told me. "At least not enough."

The jury found Tourre liable for fraud. He will probably have to pay a fine; the amount is still unclear. He could also be banned from working on Wall Street. Goldman paid a $550 million fine in 2010 to settle charges related to the case.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Do Touch The Artwork At Prado's Exhibit For The Blind

The renowned Spanish museum has made 3-D copies of some of its most iconic works to allow blind people to feel them.
NPR

Game For Ancient Grain: Palestinians Find Freekeh Again

The young, roasted form of wheat has been eaten in the Middle East for millennia. But over time many Palestinians replaced it with rice. Now it's becoming a nutritious, native food worthy of pride.
NPR

Just How Big Is The Asia Trade Deal Obama Wants? It's A Beast

The 12 countries involved in the Trans-Pacific Partnership President Obama wants to get done account for almost 36 percent of world's economy, which would be by far the largest U.S. trade pact.
WAMU 88.5

New Transit App 'Split' Pushes User To Share The Backseat

A new entrant into the growing world of on-demand transportation apps in the District uses sustainability as its pitch — with users sharing the ride with others going the same direction.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.