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Flamboyant financier ‘Sir’ Allen Stanford expects to be indicted by a federal grand jury in the next two weeks, he told ABC News in an interview in which he cried, denied wrongdoing and threatened to punch his questioner in the mouth. “I would die and go to hell if it’s a Ponzi scheme,” Stanford [...] Gramm later boasted to the Institute of International Bankers that he “killed the administration’s anti-money-laundering legislation.” “Early on, Sen. Phil Gramm, then head of the Senate Banking Committee, and his Texas colleagues in the House, Tom DeLay and Dick Armey, strongly opposed our legislation,” said Stuart E. Eizenstat, who was deputy secretary of the [...] Where did the billions go? By our count, at least five former Stanford employees told the SEC they thought Stanford was running a Ponzi scheme, from 2003 on. Yet the SEC resolutely did nothing, just like with Madoff. Look folks, if this happened in some little banana republic we’d have no problem saying it was obvious and blatant corruption. Does [...] WSJ home page headline (no link yet) Stanford chief investment officer Laura Pendergest-Holt has been arrested and charged with obstruction in SEC investigation. She’s been thought to be the one most likely to sing. This might well be meant to insure she does just that. Doug Henwood Apparently the SEC has known that something was fishy with Stanford for years. The same with Madoff before him. Yet they did nothing. Was this corruption? Bribery? Self-censorship? Complacency? Probably all of them. But this is a society badly in need of a renovation. In bad moments, I fear we’re too far gone. [...] Wow. Our Congress is so wholly owned by special interests that a private individual with enough money can establish a Caucus on his behalf and then help select which Congressmen get to serve in it. Sort of like Bernie Madoff being head of NASDAQ or Stanford himself being head of a governmental agency in Antigua [...] Newspaper veteran HG Helps tells of his days working for Stanford’s newspaper in Antigua. First off, no one in Antigua liked Stanford, something Helps originally thought odd. “Stanford go on like a he own Antigua. He want everything and the Antiguan people no fi get nutten,” [said] one of my key friends. Stanford bought [...] As the investigators dug deeper into Stanford’s operations, they faced roadblocks. They were told by bank employees that they didn’t have jurisdiction to access records of the bank and couldn’t see relevant documents, according to court records. Madoff also refused to give records to any outsider or even to most employees. And for good [...] Madoff bought no securities for at least 13 years, yet no regulator had a clue. Stanford broker fired for asking questions. The SEC knew about this, and multiple other Stanford complaints too, and of course did nothing. Just like they did with Madoff. If these Ponzi schemes had happened in a Third World country [...] |  | ||||
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