Securities fraud trial of ex-Goldman trader opens | News from southeastern Connecticut — AP

Jurors at a Manhattan trial of a former Goldman Sachs trader heard him described Monday both as an architect of a massive securities fraud and as a low-level scapegoat for the mortgage market meltdown that began in 2007….

“This is a case about Wall Street greed,” SEC lawyer Matthew Martins said in opening arguments at the federal civil trial. “It’s a case about lies, trickery and deception. … In the end it was Wall Street greed that drove Mr. Tourre to lie and deceive.”

Defense attorney Pamela Chepiga countered that her client “never misled anyone.”

via Securities fraud trial of ex-Goldman trader opens — AP