Tough times for defendant's expert witness

Before the SEC’s current trial against the former Goldman Sachs trader Fabrice Tourre (“Fabulous Fab”) got underway, the federal court roasted the defendant’s financial expert for overreaching. In pretrial Daubert proceedings, it decided to severely limit his testimony because his financial economics expertise was much too general to qualify him to speak to the subject of synthetic collateralized debt obligations (CDOs) that are at the heart of the case.