Depositors came looking for their money at a bank in Antigua controlled by Texas billionaire Allen Stanford, accused of a multi-billion-dollar fraud. But they went home without any cash. (Feb. 19)
Depositors came looking for their money at a bank in Antigua controlled by Texas billionaire Allen Stanford, accused of a multi-billion-dollar fraud. But they went home without any cash. (Feb. 19)
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In today's world, I don't trust any billionaires - but not because of a problem with the free market. You pretty much have to be politically connected, as were Madoff and Stanford, to control that much capital. But the real problem here is the monetary system itself. Inflation creates pseudo rates of return, leading to insolvencies. We need to get back onto a gold standard, and the Fed needs to stop inflating, or we will never have a recovery.
Considering the BBQ party in WS and FED; take care of your BBQ sauce donations; it might fall into another Ponzi scheme. The SEC page is PLAGUED with hundres of cases on the like and BBQ sauces are not out of the scope.
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This rox... Thank you very much.
Send them all down to Wall Street and the Federal Reserve Bank for a huge BBQ party.