My StumbleUpon Page
Fair Banking Practices In America
Wednesday, July 22nd, 2009 @ 5:56 pm | We Think
Recently in the news we were hearing a good deal about R. Allen Stanford. He’s the Texas billionaire who was indicted and jailed on charges from the federal Justice Department. The officials say R. Allen Stanford’s international banking business is nothing more than –this will make you laugh–a ponzi scheme.
We have been thinking about this accusation. Just like Bernie Madoff, R. Allen Stanford is accused of doing that ponzi scheme thing. Often described as “any fraudulent investment scheme that pays returns to investors from their own money or money paid by subsequent investors rather than from any actual profit earned”, this definition brings us to conclude, banks do the same thing.
We ask the question: Why is R. Allen Stanford’s business different than Bank Of America, or as we like to call the company Skank Of America. What separates R. Allen Stanford’s operation from say Citi, or as we have named the huge financial conglomerate Sniti. How is R. Allen Stanford’s banking empire different than Wachovia, or as we say Wacky-skank?
Other than the fact the head man is a criminally indicted person we do not see much difference.
Recently
Leave a Reply
You must be logged in to post a comment.