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Started By
Message
How will BR/LSU/TAF handle the Stanford crisis?
Posted on 2/19/09 at 6:10 pm
Posted on 2/19/09 at 6:10 pm
there are rumblings hundreds of millions/billions of dollars have lost in the Baton Rouge area ($8B total in the US )
does anybody know if TAF had a lot invested in Stanford CDs?
what do you think the effects on LSU (school and athletics) will be without these local donors having money anymore?
may this be the end of LSU as a prime time athletic spender? i've heard the ForeverLSU fund wasn't exposed much (if at all), so at least the endowment seems safe
does anybody know if TAF had a lot invested in Stanford CDs?
what do you think the effects on LSU (school and athletics) will be without these local donors having money anymore?
may this be the end of LSU as a prime time athletic spender? i've heard the ForeverLSU fund wasn't exposed much (if at all), so at least the endowment seems safe
This post was edited on 2/19/09 at 6:17 pm
10
Posted on 2/19/09 at 6:12 pm to SlowFlowPro
quote:
what do you think the effects on LSU (school and athletics) will be without these local donors having money anymore?
Can't see how it won't hurt.
Auburn may be in the same boat with Bobby Lowder's bank,Colonial ,trading for less than $.80.
Posted on 2/19/09 at 6:16 pm to I-59 Tiger
I don't understand. Please explain.
This post was edited on 2/19/09 at 6:22 pm
Posted on 2/19/09 at 6:18 pm to Broham
quote:
I'm don't understand. Please explain.
Stanford had "high rate" CDs
this was a ponzi scheme. $8B worth of losses
there are a lot of ties between that company and Baton Rouge, and the BR population was very exposed
some rumor the losses are $800M-$1.7B in BR
This post was edited on 2/19/09 at 6:22 pm
Posted on 2/19/09 at 6:21 pm to SlowFlowPro
Whoa!!!
Posted on 2/19/09 at 6:24 pm to Broham
Great avatar slowflowpro
Posted on 2/19/09 at 6:25 pm to Broham
thanks
Posted on 2/19/09 at 6:26 pm to SlowFlowPro
im out of the loop on this subject but wasn't most of the losses drug money or something like that?
Posted on 2/19/09 at 6:31 pm to nhsj012
No. The drug money laundering is a whole different can of worms from what I understand. This is money lost by many individual investors. A lot of people will be losing their life savings. I hadn't thought about the effect on LSU but SFP makes a good point. Of course, since the company was based in Texas, it could also affect schools like A$M and Texas,
Posted on 2/19/09 at 6:32 pm to SlowFlowPro
I'd like to know where you are getting your info. I have yet to hear of anyone I know doing business with these people.
I have seen a few people post on here saying their parents retirement was locked up in that.
I think the people in Texas have more to worry about than us. Some people are just idiots.
I have seen a few people post on here saying their parents retirement was locked up in that.
I think the people in Texas have more to worry about than us. Some people are just idiots.
Posted on 2/19/09 at 6:35 pm to Lil Br Tiga
quote:
I think the people in Texas have more to worry about than us.
well yeah $2B in BR, $100M in Laffy doesn't add up to $8B total, now does it?
Posted on 2/19/09 at 6:41 pm to SlowFlowPro
When I saw that SFP had started this thread, I must admit I truly expected the cause of the whole Stanford crisis to be because Keiland Willaims is "underutilized".
Posted on 2/19/09 at 6:48 pm to I-59 Tiger
quote:
Auburn may be in the same boat with Bobby Lowder's bank,Colonial ,trading for less than $.80.
Different situation.
Posted on 2/19/09 at 6:49 pm to SlowFlowPro
I have an extremely hard time believing that Baton Rouge makes up 25% of the Stanford Financial Group's CD market.
Tens of million? Maybe
Tens of million? Maybe
Posted on 2/19/09 at 6:51 pm to EmperorGout
from what i've heard, BR is one of their biggest hubs and they have lots of ties to BR
Posted on 2/19/09 at 6:52 pm to EmperorGout
quote:Try hundreds of millions at the least
Tens of million? Maybe
Posted on 2/19/09 at 6:53 pm to SlowFlowPro
There is 500,000 securities / 100,000 cash sipc insurance on the United states accounts.
If you have over 500,000 it is going to hurt but really you should spread your money out more.
If you have over 500,000 it is going to hurt but really you should spread your money out more.
Posted on 2/19/09 at 6:53 pm to ForeverLSU02
If this screws up the current roll we are on in football, I'm going to be pissed.
Posted on 2/19/09 at 6:56 pm to SlowFlowPro
quote:This is true. BR was the first satellite office and it was very productive. There were lots of BR dollars invested in that Antigua bank. Some big players in BR have lost millions if this is all true.
from what i've heard, BR is one of their biggest hubs and they have lots of ties to BR
Posted on 2/19/09 at 6:56 pm to EmperorGout
BR has more than a few people not named Pennington and Manship that have some surprisingly staggering networths. BR also has plenty of "the millionaire nextdoor" types.
This post was edited on 2/19/09 at 6:58 pm
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