- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Stanford Financial Houston office's raided
Posted on 2/17/09 at 11:20 am
Posted on 2/17/09 at 11:20 am
4
Posted on 2/17/09 at 11:24 am to DandyPimp
The SEC is investigating their cd's for fraud to the tune of $8 billion. It makes me sick to my stomach. This is why brokers get a bad rap. You have crooks like this. I have gone up against these cd's in the past and everytime I told them it was too good to be true. The thought of good hard working people being wiped out is sickening.
Posted on 2/17/09 at 11:48 am to DandyPimp
I believe the President of Stanford's private client group, Jason Green, is in the Baton Rouge office.
Posted on 2/17/09 at 11:49 am to amsterdam
Yeah. You "good guys" at the big firms merely do thing like putting clients into "cash alternatives" like close-end fund auction rate preferred securities which have now been frozen at auction for a year.
Posted on 2/17/09 at 11:54 am to amsterdam
quote:
I have gone up against these cd's in the past and everytime I told them it was too good to be true. The thought of good hard working people being wiped out is sickening.
You should not feel sickened.
These are not good hard working people getting wiped out.
They are people who play the same get-something-for-nothing, get-monster-returns-with-no-risk game that the big boys do.
They are just playing with smaller decks.
Joe Sixpack owns just as much blame in all this mess as everyone else.
I know these people. For the last 10 years I've heard everyone gush at cocktail parties about their "killer investments" and their "awesome flips" and their condos paid for by beach renters.
Very few of the people I heard these stories from were actually of sound mind and reasonable investment strategy.
Most were arrogant boasters.
Posted on 2/17/09 at 1:04 pm to Meauxjeaux
LINK
Anyone have any idea what the typical yields were on these bad boys?
quote:
U.S. authorities charged Texas billionaire Allen Stanford and three of his companies with "massive ongoing fraud" on Tuesday as federal agents swooped in on Stanford's U.S. headquarters.
In a complaint filed in a Dallas federal court, the U.S. Securities and Exchange Commission accused the cricket-loving Stanford and two other top executives at Stanford Financial Group of fraudulently selling $8 billion in high-yield certificates of deposit.
Anyone have any idea what the typical yields were on these bad boys?
Posted on 2/17/09 at 1:06 pm to Cash
double digits. They had a "secret investment strategy". 
Posted on 2/17/09 at 1:07 pm to Cash
quote:
Anyone have any idea what the typical yields were on these bad boys?
I BELIVE IT WAS 4.5% at Stanford's bank in Antigua.
I wonder what the chances are that people will get their money back?Posted on 2/17/09 at 1:23 pm to Venicetiger
If I understand this correctly this will have a major impact on Baton Rouge as many of the Stanford investors are from Baton Rouge, or is it that a couple of the firm's executives are originally from Baton Rouge?
This post was edited on 2/17/09 at 1:25 pm
Posted on 2/17/09 at 1:25 pm to Cash
Posted on 2/17/09 at 1:30 pm to TigerDog83
I heard the two guys that started the company managed Stanfords money at an investment firm in BTR. A lot of BR money is tied up in this ponzi.
It's like a car wreck...can't look away.
It's like a car wreck...can't look away.
Posted on 2/17/09 at 2:00 pm to Camp Randall
8.25% CD in a loosly regulated Carribean island. Sounds legit.
Yeah, this could hit some BR big money hard. I wonder if LSU and BR Foundations have any money tied up in this mess.
Yeah, this could hit some BR big money hard. I wonder if LSU and BR Foundations have any money tied up in this mess.
Posted on 2/17/09 at 2:27 pm to DandyPimp
A perfect example of "A fool and his money are in great demand."
Posted on 2/17/09 at 2:34 pm to LSURussian
quote:
A perfect example of "A fool and his money are in great demand."
And why if you redistribute wealth, within a few years we will be back pretty close to where we are now.
Posted on 2/17/09 at 2:34 pm to LSURussian
There are a couple of them Stanford better hope he doesn't have their money. He'll be happy with jail if thats the case.
Posted on 2/18/09 at 9:51 am to Cash
bump
Posted on 2/18/09 at 10:28 am to Venicetiger
quote:I'm certain he was and I believe still is. Unfortunately, he is very familiar with and rubs elbows with most all of the movers and shakers in BR...this could get very nasty...hope not, though...I have family and friends with investments with Stanford. They are concerned.
I believe the President of Stanford's private client group, Jason Green, is in the Baton Rouge office.
Mr. Green, like Mr. Stanford (who, I hear, can't be found), better be laying low if he has anything to do with this situation.
This post was edited on 2/18/09 at 10:31 am
Posted on 2/18/09 at 10:38 am to TampaTiger
quote:
Mr. Stanford (who, I hear, can't be found),
Yeah, he's missing. Probably hanging out in Latin America somewhere.
Posted on 2/18/09 at 11:09 am to TampaTiger
certain owner of an Italian restaurant I hope he didn't rip off.
Posted on 2/18/09 at 11:09 am to TampaTiger
quote:
Mr. Stanford (who, I hear, can't be found), better be laying low if he has anything to do with this situation.
You peasants better call him Sir.
[link=( https://en.wikipedia.org/wiki/Allen_Stanford)]LINK[/link]
Page 1 of 11
Popular
Back to top
Follow TigerDroppings for LSU Football News