By Jay Heflin - 04/27/10 05:02 PM EDT
The "business is totally dead and the poor little subprime borrowers will not last so long," he wrote on Mar. 7, 2007. "I do not intend to wait for the complete explosion of the industry and the beginning of distressed trading, I think there might be more interesting things to do in Europe."
Tourre and 6 other Goldman executives are testifying before the Senate Subcommittee on Investigations about their role in selling mortgage-backed securities to investors while making billions by betting against the very same investment.