Why wasn't Fabrice Tourre's boss at Goldman Sachs charged?

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Recall that the SEC chose to charge only one individual when it filed its ABACUS civil suit against Goldman Sachs (NYSE: GS). That individual is the now-infamous Fabrice Tourre, who is still fighting the charges and could go to trial against the SEC (SEC news). A subsequent inspector general's investigation into the Goldman probe found that SEC officials deliberated for months about whether to charge another unnamed "Goldman Manager."

Deal Journal notes that the mystery man has now been identified as Jonathon Egol, who was Tourre's boss at the bank. Egol was given a "Wells notice" back in January, and thus appeared to be in line to be charged. SEC officials had been upset about the stonewalling they perceived from him and his legal team. But in the end, they lowered the boom only on "Fab" Tourre. That mystery has yet to be solved.

It's clear that the issue was heavily discussed by SEC officials. You can read the tea leaves in many ways. But it looks to me like Tourre may not be happy that he alone was charged. If he goes to trial, we could see a lot of these issues revisited and may even see some Goldman Sachs executives take the stand. You know the company would like Tourre to settle. But will he? What's he thinking?

For more:
- here's the article

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