Interesting line of defense from fabulous Fabrice Tourre, the Goldman Sachs underling named in the SEC complaint.

Sure, Abacus 07 AC-1 was a steaming pile of poisonous junk, and we worked hard to make it that way, Fabrice seems to be saying. But who knew? Everything else was just as toxic!

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Barry Ritholtz has an amusing take on just what Goldman was trying to do with Abacus 07. Just like the guys in Mel Brooks' The Producers, Goldman was trying to create the worst possible product, hoping that its failure would earn the firm tons of money. "Its not much of a stretch," Ritholtz says, "to suggest that Abacus 2007 was Goldman Sachs' "Springtime for Hitler." "

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