Comments for Too Good To Be True at http://www.theind.com , comment 1 to 2 out of 2 comments http://www.theind.com Sat, 18 May 2013 08:33:22 +0100 FeedCreator 1.7.3 http://www.theind.com/business-news/4597#comment-1573 As I understand it, a significant number of financial advisors at Stanford had their savings and the savings of their close families invested with Stanford and lost their savings alongside their clients. Its really easy to point fingers after the fact, not understanding the advisors at Stanford were very experienced having spent many years building their book at other firms. Many came to Stanford from other firms precisely because the felt at the other big firms they were not able to take their clients best interest into account. If it could happen to them - It could to anyone. The SEC shut down the entire operation - even though many operations that had nothing to do with CD sales. The other profitable operations were destroyed by the SEC and the receiver - as a result Stanford's investors will never realize repayment from these once viable assets. 3000 employes are out of a job. Assets are being auctioned at fire-sale prices. The only winners will be the Lawyers, as evidenced by the $20 Million bill the receiver presented the SEC with for his three months management of Stanford assets. - KeithM Fri, 26 Jun 2009 13:36:12 +0100 http://www.theind.com/business-news/4597#comment-1571 It takes several things. Greed, both from the sucker and con-man. Lies. The failure of SEC and others to do their duty. And these scams belly-up every 8 years or so. Enron, tech-wreck, savings&loans, FannieMae/FreddieMac. And nobody is responsible. Not like the bankrupt shareholders are going to hang the crooks and regulators who looked the other way. - Phil Fri, 26 Jun 2009 12:26:25 +0100