Professor Elam

Wed March 7, 2012

Allen Stanford was found guilty on 13  counts of promoting  Ponzi Scheme. The WSJ has the better story than this link but surf around and you can find more. The WSJ is not accessible to all. 

Once again the SEC investigators found evidence and turned it into the SEC but the regulators did nothing. 

 ABC had interviewed Stanford about his promises of above market rates of return on Caribbean Cerfiticates of Deposit. he of course denied it. Ethics students will want to incorporate this story in some of their presentations.

Wh's the worst? 

Stanford for taking investors for a ride.

Gullible investors for believing another too good to be true story.

The SEC, always on salary, never doing anything.

Congress for passing burdensome legislation that is never enforced on the rule breakers until it is too late.

Voters for putting up with it. 

I report you decide.