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Thread: Where was the SEC?

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    Where was the SEC?

    FBI agents served the complaint from the U.S. Securities and Exchange Commission on Texas billionaire Allen Stanford in Fredricksburg, Virginia, an FBI spokesman said on Thursday.

    FBI spokesman Richard Kolko said the FBI acted at the request of the SEC and that Stanford had not been arrested. He has not been charged with any crime.

    The complaint, accusing Stanford of an $8 billion fraud, was served on him by agents from the FBI's office in Richmond, Virginia. Kolko said.
    Stanford Found in Virginia by FBI, Served Papers - Financials * US * News * Story - CNBC.com

    Yet another blow against the US regulatory system. Some are saying the fraud could be in the $50 billion range. The worst part, the SEC has known about this for some time...

    I have a belief that there will be more and more multi billion dollar fraud cases reported in the coming months.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Where was the SEC?

    Apparently, he was tight with a lot of politicians, having donated gobs to money to many.
    Last edited by Middleground; 02-19-09 at 08:29 PM.
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    Re: Where was the SEC?

    My point in another thread.
    President Obama could, nay should order an immediate ban on any Politician accepting monies for whatever purpose while they are in an elective office.
    Further it should be law that elected Politicians have their wealth placed in Blind Trusts while they hold their elected office.
    Getting Politicians away from being seen as corrupt would do more to lift the belief in the US as a bastion of Democracy instead of as money grubbing sleaze ridden rats.

    Now that would be CHANGE we could believe in.

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