Only potential survivor, the fabulous Fab

Last week, the SEC filed fraud charges against Goldman Sachs and the 31-year-old Frenchman who calls himself Fabulous Fab. And on Tuesday, Fabulous sat before a Senate panel that wanted to know how he helped a hedge-fund tycoon make a billion dollars by dumping worthless mortgage securities on unsuspecting Goldman customers and then betting against those same securities -- all the while accelerating the burst of the housing bubble and the downfall of the world economy.

Fabulous, in an e-mail from 2007, described the mortgage business as "totally dead, and the poor little subprime borrowers will not last too long!!!" Yet two months later, he boasted that he had managed to dump some more of the worthless mortgage securities on "widows and orphans that I ran into at the airport."

Milbank's column is worth a read, just prepare to be disgusted.