So what allyuh think about Stanford

[Falcon]

Was it all too good to be true, WI cricket's sugardaddy?

As you can see, Stanford manages to report extremely consistent returns every year, and it even managed to make a 6% profit on its portfolio in 2008. Which is extremely impressive, given what happened to just about every asset class last year. And which is even more impressive given that Stanford International Bank is a bank which doesn't make loans.

Businessweek

But skeptical federal and state regulators are now taking a hard look at Stanford's operation—especially those CDs, whose underlying investments seem questionable. Over the past 12 months, the stock market and hedge funds have lost huge amounts of value even as Houston-based Stanford Financial Group continued to pay out above-average returns and claimed to have boosted the assets it oversees by 30%, to more than $50 billion.

He'll make a statement on his future investment in WI cricket development before tomorrow's match. 8-)

[Beetle]

^ Interesting.

[Ali]

http://content-wi.cricinfo.com/ci/conte ... 91239.html

[shield_2006]

It never ends! Does it? This is a byproduct of the Birds in Antigua and this charlatan was able to carry himself about the WI as Billionaire Stanford of Caribbean Express fame and all that. I only glad for the WI cricketers who at least will able to remember him fondly

[mammadon]

i was like :shock: when i heard this.

i'm thinking his entire idea of developing Caribbean cricket was just a rouse.

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

[bigzack]

Well "the fugitive" Stanford, as the news outlets are referring to him, flew into the States on one of his private jets. The US Marshalls or the FBI, depending on which news outlet you watch, served him with summons in Frederiksburg, Virginia this afternoon.

He was not arrested. His passport was not seized.

So far, I don't know what crime(s) Stanford has committed.

The FBI has been investigating him, on and off, for about 10 years now.

Knowing that the Feds have their eyes on him, would Stanford be so stupid to commit criminal acts, in plain view of the FBI?

[bigzack]

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

Would you like to be an American now?

The SEC used Madoff to advise it on how to spot Ponzi schemes.

Fox don't get to guard a juicier hen house than that.

[Huma]

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

Almost as bad as putting Bush in the White House twice and going to war based on a lie...

[mammadon]

Madoff's scam hasn't seriously hurt the USA economy. I doubt he is the cause of the recession.

But Antigua is a developing country and relied on Stanford's support to develop some of its infrastructure. Now he's gone and looks likely to make a jail, then dey got eggs on their faces, IMO. I bet Spencer (or the PM of Antigua, whatever he name is...) feels dotish, since they offered him so much support and thought it was a godsend, now if he makes a jail, who else would come in?

[mammadon]

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

Almost as bad as putting Bush in the White House twice and going to war based on a lie...

True.

But then one can also talk about a country where the ruling party scathes the Opposition for being corrupt, and it too looks like corruption is taking place in it. or a country where dengue exists but it doesn't exist (according to the government anyhow). Or a country where the capital city floods whenever there is a heavy rain and the government continue to do nothing about it.

but i guess no country is perfect, eh? ::

[snowbird]

Boy, I love how this 'economic downturn' is flushing out all of those 'phony billonaires'....... all of those people who for years have been 'living large' on other people's money....... I hope all of them go to jail for a long time.

[Huma]

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

Almost as bad as putting Bush in the White House twice and going to war based on a lie...

True.

But then one can also talk about a country where the ruling party scathes the Opposition for being corrupt, and it too looks like corruption is taking place in it. or a country where dengue exists but it doesn't exist (according to the government anyhow). Or a country where the capital city floods whenever there is a heavy rain and the government continue to do nothing about it.

but i guess no country is perfect, eh? ::

I doh know what your point is.

My point is that it's really hypocritical to point out Antigua's acceptance of Stanford as some kinda small-island stupidity when even bigger crooks than Stanford operate openly and with public support in developed nations. Hell, how much of Stanford's fortune comes from developed nations?

Conmen fool people. It happens.


As an aside, when exactly did the government claim that dengue doesn't exist in Trinidad?

[Falcon]

amm Stanford ent even get arrested eh, when the feds 'find im' yesterday all they give him was some papers.......so keep allyuh champagne on ice and party poppers in the bags for a bit yet.

[mammadon]

I doh know what your point is.

My point is that it's really hypocritical to point out Antigua's acceptance of Stanford as some kinda small-island stupidity when even bigger crooks than Stanford operate openly and with public support in developed nations. Hell, how much of Stanford's fortune comes from developed nations?

Conmen fool people. It happens.


As an aside, when exactly did the government claim that dengue doesn't exist in Trinidad?

of course there are conmen. not everybody in the world has integrity.

but Stanford had invested plenty into the island, which benefitted the Antiguan economy. after news of his alledged misdeeds, 200 jobs were lost on the island.

Now, did Madoff invest plenty into the USA? US GDP is about 13-14 trillion dollars, i doubt he'd be lucky to have invested even one percent of that figure. USA is big enough and advanced enough to get over Madoff in time, but is Antigua big enough and advanced enough to get over Stanford, if he does make a jail? economically, what does antigua have going for it, apart from tourism?

imo, it's not the same as Madoff since the effect and impact of Madoff is not as large.

as for dengue, i remember one of the ministers in the cabinet saying this last year.

[Huma]

What yuh need to ask yourself is if Madoff is the only one of his kind in the States.

The high stakes con games in the States are too numerous to mention. From Nixon to Enron to the Bush Administration, that country's GDP, employment rate, and its very culture has been affected significantly by political and corporate scheming.

Antigua is not going to suffer some sort of economic cataclysm because Stanford is going to jail. I think that very idea is a bit silly.

And no Cabinet Minister said there was no dengue. It was stated that there is no dengue epidemic.

[bigzack]

i wouldn't like to be antiguan now, since Antigua looks plenty dotish IMO. Dey gave him a knighthood, welcomed him, let him open up banks there, and look what has happened now?

Mammadon

You could really spin boy. Sulieman Benn ain't have nothing on you.

But yuh should realise by now, that de batsmen on this wicket could play spin. Especially if the spinner is having a difficult time disguising his wrist action.

But no matter how much you spin the above statement, you cannot get away from the fact that you implied that 3rd world Antigua "looks plenty dotish".

[mammadon]

What yuh need to ask yourself is if Madoff is the only one of his kind in the States.

The high stakes con games in the States are too numerous to mention. From Nixon to Enron to the Bush Administration, that country's GDP, employment rate, and its very culture has been affected significantly by political and corporate scheming.

Antigua is not going to suffer some sort of economic cataclysm because Stanford is going to jail. I think that very idea is a bit silly.

And no Cabinet Minister said there was no dengue. It was stated that there is no dengue epidemic.

well, the Antiguan PM said the effect on the island could be "catastrophe". http://www.guardian.co.uk/sport/2009/fe ... -caribbean

even if the antiguan economy wouldn't collapse, plenty people are still concerned about this thing on the island. stanford was far and away the biggest investor on the island.

and i used the GDP point as an example of scale. you mentioned enron, but how many US firms are as big as Enron was? few, that's for sure. Most are small businesses, with smaller numbers of employees and turnovers. whether the bulk of small businesses in the USA are directly funded by tycoons, i don't know. at most, it may only be an indirect effect, since small firms often get loans from the banks.

[draja]

Even his Twenty20 website gone to de dogs. Spammers fuh so.

http://www.stanford2020.com/

[snowbird]

What yuh need to ask yourself is if Madoff is the only one of his kind in the States.

The high stakes con games in the States and around the world are too numerous to mention. From Nixon to Enron to the Bush Administration, that country's GDP, employment rate, and its very culture has been affected significantly by political and corporate scheming.
Antigua is not going to suffer some sort of economic cataclysm because Stanford is going to jail. I think that very idea is a bit silly.

And no Cabinet Minister said there was no dengue. It was stated that there is no dengue epidemic.

Exactly, and like I said before... this 'economic downturn' seems like it is one vehicle that has been responsible for all of those con artist being exposed, and seen for what they are.
My feeling is that over the next few years, we will be seeing a whole slew of these people surfacing.

[skl]

http://www.reuters.com/article/marketsN ... 8720090219

WASHINGTON, Feb 18 (Reuters) - The U.S. Federal Bureau of Investigation and others have been investigating whether Texas billionaire Allen Stanford was involved in laundering drug money for Mexico Gulf cartel, ABC News reported on Wednesday, citing federal authorities.

The U.S. Securities and Exchange Commission on Tuesday charged Stanford and two executives of Stanford Group Co with an $8 billion fraud.

Mexican authorities detained one of Stanford's private planes as part of the investigation, which has been ongoing since last year, ABC reported citing unnamed officials.

Officials said checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico's most violent gang, ABC reported.

ABC cited authorities as saying that Stanford could potentially face criminal charges of money laundering and bribery of foreign officials.

Authorities said the SEC's action against Stanford on Tuesday may have complicated the federal drug investigation.

[Scorpio]

Humm, I just finished watching NBC's very interesting "Secrets of the Knight" documentary about this subject and I find it makes Stanford look like a smartman & also makes Antigua look like a money luanderer's paradise.

[Falcon]

:roll: but yet still they cant find a single charge to charge the man. :roll:

[Scorpio]

:roll: but yet still they cant find a single charge to charge the man. :roll:

Falcon, Stanford's defence is that the US regulators are embarassed because they didn't pick up on Madoff's scams, and they decide to frame him (stanford) to redeem themselves.... :roll:

Doh tell meh yuh buying that garbage ..... I really starting to wonder about you now eh. :?

[Falcon]

....lots of hot air, scorps, still no charge.

even in america the innocent does get lock up, how come stanDIfood still at large? ::

[Scorpio]

....lots of hot air, scorps, still no charge.

even in america the innocent does get lock up, how come stanDIfood still at large? ::

Well, I would ask you, where all his investors' money ?

If he did nothing wrong, then all dem people who line up outside his bank in Antigua would have gotten back their money, not so ?