If you haven't heard about this yet, it's likely you are still trying to figure out Mr. Madoff's grand scheme. That guy was a former NASDAQ Chairman, and another "trusted" member of our financial society. The new "Sir" is Allen Stanford. He's from the Bush homeland of TX, where the frauds are always bigger and better. Stanford is the Chairman of Stanford Financial and has managed to support the Mexican drug cartel, launder money through off-shore accounts, create false certificates of deposits, etc... BTW, Stanford has mysteriously disappeared. Just in time for a nice investigation. The irony.
These guys are well connected. Remarkably, Vice Prez's Joe Biden's son managed some interesting hedge funds marketed by Stanford's firm. Some of Stanford's directors held prominant positions. Two were financial regulators: Fredrick Fram and Lena Stinson. They were both at FINRA! [I wonder if they are also related to Madoff's FINRA family members? Like the ones he used to cover up his $50B ponzi scheme.]
So it's bad enough these guys continue to perpetuate fraud with innocent money. But even worse is the fact that people at the top of these schemes are politicians/elected officials/regulators that are supposed to protect our interests, right?. Wait, you mean centralized unchecked power yields corruption?
DO YOUR OWN RESEARCH AND SEE WHAT'S REALLY GOING ON.
References:
http://www.stanfordfinancial.com/sir_allen
http://www.huffingtonpost.com/2009/02/24/allen-stanford-had-links-_n_169361.html
http://www.reuters.com/article/allenStanford/idUSTRE51N5RO20090224
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