Sometimes, it’s the bad barrel that can spoil the apples! This is precisely what Mr.
Smith argues in regard to Goldman Sachs: The ethical climate had changed for the worse,
so that seeing clients as mere “counter parties” to transactions made deals like Abacus possible.
One could argue that Mr. Tourre simply followed the values held within Goldman
Sachs (“profit is king” and “clients are grown-ups”). As a mid-level employee, many view
Mr. Tourre as the scapegoat in the Abacus case. 61