Billionaire Turns Fugitive

Allen Stanford has done a Judge Crater. Absconding with perhaps eight(8) billion dollars or as much as fifty(50) billion dollars of his clients' money, the tall Texan seems to have vanished. Perhaps, a new underground railroad has been constructed and Stanford is in hiding in Madoff's china press. Authorities are learning new methods of dealing with these wealthy fraudsters. They are buying Hermes handcuffs and outfitting cell beds with hand-loomed 800-thread count Egyptian long-staple cotton sheets. Whatever the actual figure of the fund diversion, the fact that it can occur can only further erode already damaged confidence with no evidence of either fiduciary responsibility or enforcement of existing regulation. Eight billion or fifty-that must be one hell of a carpetbag.

More Fixed Games

Some years back, my family was close to a builder named A.J. He was educated to an extent, but had been a jock, a college baseball player to be precise. He was also a coach, umpire, and referee. We would talk economy with A.J. and he would declare, "the game is rigged." Of course, at the time under the end of Carter's mismanagement and the start of Reagan's resurgence, we dismissed his sport's analogy as we knew so much more and explained the complex degree of regulation of the Securities and Exchange Commission, Federal rules, and even IRS intrusiveness that would naturally preclude market-manipulation and keep stock-trades and other investments fair, indeed beyond reproach. After Madoff and now with Stanford and his alleged eight(8) billion dollar manipulation, my hat is off to A.J., Mr. Johnson, you are correct, time has acquitted your suspicions, the dealers dealt from the bottom of the deck and unwary buy-and-hold investors were victims of one of the most corrupt casinos in the world. Stanford was evidently a cricket enthusiast, not a crime by any means but unusual for someone from Texas, the heart of the land for baseball, apple pie, and as the old commercial says, Chevrolet. What kind of confidence can anyone have in anything when it seems that the aforementioned national past time has become nothing but a rogues' gallery of steroid-enhanced record breakers? Even arguably the game's best, Alex Rodriguez is tainted. You used to hear "Go to school, listen to your parents, take your vitamins, and play by the rules and you will be a major-leaguer." Now, you might hear "skip school, shoot 'roids, and make forty mil", but that figure seems like chump change when contrasted with what honest, play by the book investors have recently had stolen. Wall Street seems to have been awash with sharks, and we were the guppies they devoured by the thousands as they had their blood-in-the-water feeding frenzy.