Thursday, February 19, 2009

Stanford and The Ponzi Schemers

Unlike Bennie and the Jets, this non-entertaining group was designed by the Fed and IMF to bilk money from Venezuela. As Chavez consolidated power and when he ultimately thwarted the 2002 American-led coup against him, the monied interests that had controlled most of the country were forced to flee.

Enter R. Allen Stanford and the small British commonwealth of Antigua. Everything was fine as long as the venture was a profitable one. When the economic crisis hit, investors started to shift their funds into different assets, most notably, away from the U.S. dollar. Though in the "in" crowd, when the scheme went sour, even some of their own needed to be shaken down and made an example of. I can't help but hear Chavez giggle......

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