"he got an ultimatum: Resign or be fired. "

[formercia]



http://finance.yahoo.com/news/Questioning-Stanfords-returns-apf-14420962.html





Questioning Stanford's returns could get you fired


Questioning Stanford's outsized returns could get you fired, ex-employee says

Daniel Wagner and Rasha Madkour, Associated Press Writers
Friday February 20, 2009, 4:30 am EST

WASHINGTON (AP) -- While R. Allen Stanford's investors were swallowing claims of vast returns on safe investments, some of his employees weren't so sure.
And though one of them tried as early as 2003 to pass on to regulators his concerns about the bank, nothing came of it until Stanford's operations were raided and shut down Tuesday.
The Texas billionaire with a reputation for jet-setting and lavish spending faces civil charges for allegedly lying about his investment strategy. But in 2003, when his offshore banking empire was exploding in size, even asking managers one question too many could get you fired, Miami broker Charles Hazlett said.
Hazlett was a top performer at Stanford's bank, having sold $10 million in certificates of deposit in a single quarter of 2002. The company rewarded him with a new BMW.
But when a client asked Hazlett for details about the investments, no one at the bank would give him even basic information about risk ratings and asset allocation, he said in an interview.
Eventually, Hazlett said, he called a meeting with a top officer of the bank to ask how the investments worked. Instead of answers, he got an ultimatum: Resign or be fired.
--snip--

It's not nice to fuck with one of the boys.

[Uben]

1. Until we get to the point..........

...that we are willing to lock these scammin bastards up for life without parole, they will continue to be a blight on society.

[depakid]

2. They have to do major prison time- simple as that

5-10 years with full restitution.

It's the only language they understand.

[Uben]

3. They go thru money like water

No way can any of them make full restitution, tus, I say life without parole. Anyone willing to bilk Americans out of their life savings does not deserve freedom!

[depakid]

4. I'd prefer they did some prison time and then paid restitution for as long as it takes

My bet is that's what most of the victims want too.

[Uben]

7. You're too kind.....

I'm just so fed up with all these crooks robbing people of their life savings, doing a few years (or months!) in prison, then getting out and disappearing to the place where they hid their fortune. Short of the death penalty, I think life without parole is the only deterrent these people might understand. Of course I would love to see people get their money back, but all they would get is what is left after the bastards are caught, which is probably a very small percentage. Someone who has the gall to rob a person of their life savings is not going to try to make a fortune so they can repay the people he screwed.

[Last Stand]

10. Bank robbers average $3k in theft and get more jail time. nt

[malaise]

5. The truth is that until both the war criminals and those

in the financial sphere are locked up, this planet will not recover.
There is only one word for the past eight years - lawless!!! Lawlessness has facilitated the rise of international criminality on a scale unbeknown to humanity.

Until they are all in jail and new rules established and followed, we are all collectively fucked.

In the name of US national security, the entire planet has been raped. Very few countries have been spared. The 'war on terror' has to begin in the US.

[malaise]

6. dupe

[izzie]

8. I say Congress could fix this in a New York Minute,

But they will not do it. They like their money to much. We need more people like Sanders of Vt. in Congress and people like Penny but there are to few of those people. Many go in as real people and come out with millions. How do they do that on 140,000 a year unless they are taking money?

[formercia]

12. It's how the game has always been played.

The vig is always figured into the final price. They never pay retail.

To perpetrate that large of a criminal conspiracy, you have to put people in power that will play along. This has been in planning for generations. The put their people in place, co-opted as many people as needed to get the job done and ran with it.
The boys just did it on a bigger scale than anyone imagined.

[izzie]

15. I think it was always a way up but it has just gone to far.

Our own group of crooks and we put them in. They will take the country down and many seem to be the most un-Am. I can think of. If they do not play in the pig pen they do not get good jobs where they are. I can re-call SEN. Muskie did not play and it took him years to get on a good group in Congress. There used to be a men from, I think, Del. that used to tell all and others in Congress tried for years to bring him down and they could never get him for any thing. I want to say his name was Williams but it was so many years ago. Look at Snowe from Maine. She even had her husband set up in a good job and she became a person with millions years ago when she was in the house. At the time she was not married yet she became worth millions on less than 100,000 a year. She must have lived in a mailbox or some thing to have saved that money so fast and still lived in both Maine and DC. Yet she keeps getting voted in and with a very large percent. I just can not figure it out. My thoughts are we like these people and will put up with any thing and do not care if things are way off. Heck look at the things Bush did, and got away with, long before he ran (with a father in high places). Yet people voted for him. We could watch these people but I do not think most people really care if they are crooks or not.

[The Wizard]

9. Start removing body parts

until they fork over the money. It's legal now.

[lurky]

11. Notice a pattern? The Bush SEC "overlooked" this fraud too.

After being alerted. This is starting to sound like collusion, or at least an official policy of not trying very hard to catch crooks.

[formercia]

13. Bush oversight

just another 'oversight.'

[RUMMYisFROSTED]

14. k/r