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Allen Stanford Found Guilty Of Being Not Too Big To Fail; In Other News Jon Corzine Walking Free

Tyler Durden's picture




 

In case anyone cares:

  • ALLEN STANFORD FOUND GUILTY BY FEDERAL JURY IN HOUSTON - BBG
  • ALLEN STANFORD FOUND GUILTY ON 13 OF 14 CHARGES - BBG
  • STANFORD CONVICTED IN $7 BILLION INVESTMENT FRAUD SCHEME - BBG

Of course, his real crime was not realizing that if you are going to get busted for ponzinomics, you better make sure everyone goes down with you. In the meantime, rejoice, sheep, for the theater of Ponzi crime and punishment continues. Then again one wonders: why are the perpetrators of the biggest Ponzi of all time, i.e., the central bankers, walking free? Or Jon Corzine for that matter?

 

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Tue, 03/06/2012 - 13:56 | 2228761 spiral_eyes
spiral_eyes's picture

Jon Corzine donates money to the right people.

Tue, 03/06/2012 - 13:56 | 2228763 Ahmeexnal
Ahmeexnal's picture

No, he donates to the left.

Tue, 03/06/2012 - 13:57 | 2228773 CoMooter
CoMooter's picture

...and is 'of' the left...

Tue, 03/06/2012 - 14:04 | 2228805 TruthInSunshine
TruthInSunshine's picture

Stanford wasn't smart enough to become an Obama Bundler.

Playya.


#JonCorzineIzzaObamaBundler

 

Ben Bernanke: Public Enemy #1 -- Mr. Big Shot (Music Video)

Tue, 03/06/2012 - 14:07 | 2228814 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Leave Corzine alone!!!

Tue, 03/06/2012 - 14:12 | 2228833 eatthebanksters
eatthebanksters's picture

Corzine neds to be mad an example of by someone...I only wish I had the balls to do it...

Tue, 03/06/2012 - 14:55 | 2229083 JPM Hater001
JPM Hater001's picture

Ok, I'll get the tar and feathers.

Hang on...there's a knock at the door.

Tue, 03/06/2012 - 14:15 | 2228841 WestVillageIdiot
WestVillageIdiot's picture

The one memory I will always have about Allen Stanford is when media whore, ass-kissing lickspittle and all-around douche bag Carl Quintanilla asked him what it is like to be a billionaire.  The two cocksuckers were laughing joyously.  Carl looked so proud that he was being a good CNBC foot solder, licking the balls of one of the financial business' bigger scumbags.  Good job, Carl. 

I just hope Stanford gets cornholed on a regular basis.  His new cellmate should be Turner Brown.

Tue, 03/06/2012 - 14:17 | 2228857 Theta_Burn
Theta_Burn's picture

WVI

I posted that clip down below

Don't worry he has already been cornholed...

Tue, 03/06/2012 - 14:39 | 2228994 pupton
pupton's picture

Heh, I must be dislexic.  I first read the headline as ...Another Non Jew Corzine walking free.

Tue, 03/06/2012 - 15:59 | 2229390 Liquid Courage
Liquid Courage's picture

Licking the balls of Financial Scumbags must be like painting the Golden Gate Bridge ... takes so long that as soon as you finish, it's time to start all over again.

I think we could have a whole new category of jokes here ... instead of "Yo Mamma", "Yo Banksta Ballsack", as in: Yo Banksta Ballsack so big it causes eclipses!

Tue, 03/06/2012 - 15:28 | 2229237 Dermasolarapate...
Dermasolarapaterraphatrima's picture

Stanford should have moved his trial to NYC....instead, "a Houston jury found him guilty...." Those Houstonians are not easily bought off by the Ponzi men especially after Enron wiped out ALL their 401(k) savings...

In NYC, fraud is a way of life ir seems.

Tue, 03/06/2012 - 15:30 | 2229260 Ahmeexnal
Ahmeexnal's picture

south of Houston (House-ton, not Heus-ton) residents have also been wiped out.

Tue, 03/06/2012 - 13:58 | 2228775 CoMooter
CoMooter's picture

...and is 'of' the left...

Tue, 03/06/2012 - 14:01 | 2228792 Careless Whisper
Careless Whisper's picture

The Careless Whisper Afternoon Update & Threadjacking

 

Fiat Pres.; New Alfa Romeo To Be Built Solely In USA; Europe Is "A Mess"

http://www.detroitnews.com/article/20120306/OPINION03/203060316/Marchionne-Fiat-needs-take-cue-from-Chrysler?odyssey=tab|topnews|text|FRONTPAGE

8 A.M. GoldmanSachs Reiterates "Conviction Buy" On Ralph Lauren (RL); 1 P.M. RL Down 4%

http://www.streetinsider.com/Analyst+Comments/Yes,+Ralph+Lauren+%28RL%29+Has+More+Upside+-+Goldman+Sachs/7243618.html

CT Governor Seeks Order Of Protection Against US Senate Candidate

http://www.stamfordadvocate.com/news/article/Malloy-files-protective-order-against-Greenwich-3385284.php

Landlord Sued By Coach, Louis Vuitton Because Tenant May Have Sold Counterfeit Handbag

http://www.sun-sentinel.com/news/local/crime/fl-fake-coach-products-swap-shop-20120305,0,5068094.story?page=1

DARPA Unveils Robot That Can Run Almost As Fast As Usain Bolt; VIDEO

http://news.cnet.com/8301-17938_105-57390876-1/darpas-cheetah-becomes-fastest-legged-robot/?tag=txt;title

Attorney General Thinks Executive Branch Determines Due Process

http://jonathanturley.org/2012/03/06/holder/

Colorado Supreme Court: Students & Employees At University Can Defend Themselves

http://www.rawstory.com/rs/2012/03/06/colorado-court-says-students-can-carry-guns-on-university-campuses/

London's Savile Row Orders Abercrombie O.U.T.; "Uncouth' American

http://www.dailymail.co.uk/news/article-2110739/Get-Savile-Row-shops-resist-U-S-invader-opening-childrens-shop-home-Beatles-record-label.html

 

 

 

Tue, 03/06/2012 - 13:59 | 2228767 bdc63
bdc63's picture

those biding their time until they get to see Corzine donning an orange jumpsuit are likely going to have to settle for Allen Stanford ... orange jumpsuit perp walk in 3.... 2.... 1...

Tue, 03/06/2012 - 14:08 | 2228819 Theta_Burn
Theta_Burn's picture

If there not offering anything else up Allen Stanford will suffice....for now

This guy was 1 giant turd...

Ck this out................................... http://www.dailymail.co.uk/news/article-1327421/Allen-Stanford-beaten-jail-inmates-awaits-trial.html

And in much happier,smug times... http://www.thedailyshow.com/watch/wed-march-4-2009/cnbc-financial-advice   "Sir Allen" towards the end

Sorry to all you Jon Stewart haters out there, but after this episode i will be a fan for life. 

Corizine's time will come as well

Tue, 03/06/2012 - 14:16 | 2228853 WestVillageIdiot
WestVillageIdiot's picture

Didn't Stanford take a nice ass-kicking recently?  I'm too lazy to look it up or care very much.  But I think his face got abused quite badly in jail.  Bwahahaha. 

Tue, 03/06/2012 - 14:54 | 2229081 Theta_Burn
Theta_Burn's picture

Reach up a few lines and click that first link...

Tue, 03/06/2012 - 17:45 | 2229949 CompassionateFascist
CompassionateFascist's picture

Also the thread w it is a howl - residents of Londonstan bemoaning the horrors of American prisons.

Tue, 03/06/2012 - 14:17 | 2228854 Clowns on Acid
Clowns on Acid's picture

Jon Stewart will never skewer Corzine.

  • Corzine stole from mid America...farmers, hedgers etc..
  •  Was an Ex DEM Gov. of NJ...and large DEM / Obama supporter.
  • Ex GS CEO (with Paulson...crazy enough..)
  • Stewart is a small man and a large d-bag
Tue, 03/06/2012 - 14:23 | 2228898 czarangelus
czarangelus's picture

I provisionally like Stewart. I think his instincts are good but he doesn't have enough technical knowledge to understand why someone like Corzine is the antichrist. Plus, he's still on a Viacom leash, so he can only go so far with his material...

Tue, 03/06/2012 - 14:27 | 2228931 WestVillageIdiot
WestVillageIdiot's picture

Isn't Liebowitz's brother a bigshot at the NYSE?

Tue, 03/06/2012 - 17:46 | 2229952 CompassionateFascist
CompassionateFascist's picture

yes

Tue, 03/06/2012 - 14:46 | 2229015 Theta_Burn
Theta_Burn's picture

I'm from Jersey and know all about Corzine. can you say honorable? http://www.nytimes.com/2005/08/04/nyregion/04corzine.html?_r=1

Prior to the Honorable Corzine we had a a homo gov. who appointed his gay Israeli national boyfriend to head up homeland security in Jersey ....but couldn't attend the meetings critical to do his job because he was an israeli national...but thats another rant

When i hear "Chicago Politics" i have to laugh

They have since moved on to great careers & earnings...Problem is Corzine will be looking over his shoulder the rest of his life

You have to admit Stewart rocked that episode

 

Tue, 03/06/2012 - 14:47 | 2229047 rancher from So...
rancher from South Dakota's picture

Farmers and ranchers all,........And I mean ALL have guns and most are only 3-4 generations from having used them..... My Grandpa is 93 and he has told me that if he wishes he were fit enough to go after some....... that message is creeping to younger and younger people .......Corzine should start wearing a vest

Tue, 03/06/2012 - 14:58 | 2229101 Theta_Burn
Theta_Burn's picture

It's not Stewart's job to skewer anybody

Isn't the SEC supposed to do that?

Tue, 03/06/2012 - 15:00 | 2229106 JPM Hater001
JPM Hater001's picture

Boo. I want the bastard perp walked.

Tue, 03/06/2012 - 21:52 | 2230704 Buck Johnson
Buck Johnson's picture

Stanford was a CIA asset, trust me.

Tue, 03/06/2012 - 13:59 | 2228777 GeneMarchbanks
GeneMarchbanks's picture

Nice. So we can keep pretending that justice is served?

Tue, 03/06/2012 - 14:15 | 2228828 tickhound
tickhound's picture

Real justice comes during market wash outs.  Notice all the ponzi schemes (including our very own) that got exposed in '08... once the outgoing outpaced the incoming.

Tue, 03/06/2012 - 13:59 | 2228779 NotApplicable
NotApplicable's picture

Oooops... Looks like somebody paid their membership fees to the wrong club.

Tue, 03/06/2012 - 14:17 | 2228859 WestVillageIdiot
WestVillageIdiot's picture

You got that right.  This type of verdict is usually reserved for Hindu financiers. 

Tue, 03/06/2012 - 13:59 | 2228782 Ahmeexnal
Ahmeexnal's picture

Time to call for some...street justice.

Tue, 03/06/2012 - 14:00 | 2228784 mayhem_korner
mayhem_korner's picture

 

 

Well, it looks like the crackerjack justice system is ridding the world of Ponzis.  Are there any more?  Anybody?

BTW, I just LOVE this mug of Sir Allen:

http://articles.businessinsider.com/2011-01-27/wall_street/30068030_1_allen-stanford-judge-david-hittner-ponzi-scheme

Tue, 03/06/2012 - 14:19 | 2228869 WestVillageIdiot
WestVillageIdiot's picture

That photo is nasty and yet it still brought some warmth to my heart.  Doesn't he look a little like Hitler in that photo?  And then the judge's name is Hittner.  Weird. 

Tue, 03/06/2012 - 14:00 | 2228785 Clint Liquor
Clint Liquor's picture

You folks just don't understand. Stanford stole money. With Corzine the money 'vaporized'.

Tue, 03/06/2012 - 14:20 | 2228876 WestVillageIdiot
WestVillageIdiot's picture

"And it's gone......"

Tue, 03/06/2012 - 14:01 | 2228788 SilverFocker
SilverFocker's picture

but, but....he had no idea, he don't know the detail's, and he was once a seenetaarrr.

Tue, 03/06/2012 - 14:21 | 2228887 WestVillageIdiot
WestVillageIdiot's picture

A senator, a governor, a Goldman Sachs CEO and an all-around douche bag.  I believe that may be a redundancy. 

Tue, 03/06/2012 - 16:14 | 2229512 Nobody For President
Nobody For President's picture

A Senator, a Governor, and a Goldman Sachs co-CEO walked into a bar...

Tue, 03/06/2012 - 14:02 | 2228794 ziggy59
ziggy59's picture

Minions always get sacrificed for their masters. Distraction and more smoke and BS for the sheep to say ..justice served. Yeah right. Many will only say that when the masses dig out their farming equipment for hay. It is bankers season no?

Tue, 03/06/2012 - 14:22 | 2228895 WestVillageIdiot
WestVillageIdiot's picture

"The NCAA is so mad at Kentucky that Cleveland State is sure to get two years probation."
-  Jerry Tarkanian

The whales are always safe but the shrimp, not so much. 

Tue, 03/06/2012 - 14:03 | 2228801 sexcellent
sexcellent's picture

mainstream media works for the corzines of the world. 99% of americans don't even know who jon corzine is, and that's why he will walk.

Tue, 03/06/2012 - 15:34 | 2229272 azusgm
azusgm's picture

Corzine should be tried in Houston. That's where the Enron folks found the way to prison and Ken Lay found the way to Paraguay.

Arrest Corzine and put him up on capital charges. (Surely aggrevated serial rape should count.) Houston judges and juries love to depopulate the pool of rabble. As one comedian said, "Houston no longer uses the electric chair. Now it's the electric couch."

Then Eric Holder can stand trial.

Tue, 03/06/2012 - 17:49 | 2229963 CompassionateFascist
CompassionateFascist's picture

Put him in the same room w Ann Barnhardt. Lock door.

Tue, 03/06/2012 - 14:05 | 2228809 RSloane
RSloane's picture

Corzine is far far too close to the president to ever serve one day in jail. If he was tried and was sentenced it would be commuted.

Tue, 03/06/2012 - 14:28 | 2228939 reload
reload's picture

It matters not. Inevitably somebody, with a long reach and a bit of patience will serve their own version of justice on Mr Corzine. Russians, South Americans and Asians were robbed along with farmers and western speculators, at least one of them will seek satisfaction with his own take on vaporisation. If you were Mr Corzine how much would you be spending on personal security? would you be sleeping well? the US justice system will not go after him but he has far bigger worries. He will take the fall.

Tue, 03/06/2012 - 16:28 | 2229603 krispkritter
krispkritter's picture

Corzine: Too Big To Jail...

Tue, 03/06/2012 - 14:05 | 2228811 Jason T
Tue, 03/06/2012 - 14:11 | 2228827 Careless Whisper
Careless Whisper's picture

thanks for the link. greenspan said "things were done that were illegal and certainly criminal..." which means he is, ironically, the only bigshot who alleges criminal activity.

 

Tue, 03/06/2012 - 14:05 | 2228812 taniquetil
taniquetil's picture

Well, you see, Allen Stanford knew where the money is. If he had played dumb, he could have avoided this altogether.

 

"I simply do not know where the money is"

-Jon Corzine

Tue, 03/06/2012 - 14:05 | 2228813 ihedgemyhedges
ihedgemyhedges's picture

Stanford is from Texas. According to the rules, that is too far from DC/New York/New Jersey. Kind of like Enron.....

Tue, 03/06/2012 - 15:28 | 2229250 NotApplicable
NotApplicable's picture

Even the outsider Nixon new not to trust the cowboys.

Tue, 03/06/2012 - 14:08 | 2228818 azzhatter
azzhatter's picture

CNBC lost another guest

Tue, 03/06/2012 - 14:20 | 2228873 AN0NYM0US
AN0NYM0US's picture

not to worry experts like Anne Mathias who was with Stanford before going to MF Global now hangs her shingle at Guggenheim and is featured regularly on the  financial entertainment networks

Tue, 03/06/2012 - 14:24 | 2228904 WestVillageIdiot
WestVillageIdiot's picture

I believe you meant financial comedy networks. 

Tue, 03/06/2012 - 14:15 | 2228846 fuu
fuu's picture

His anus will soon be Too Big To Feel anything inserted within.

Tue, 03/06/2012 - 14:16 | 2228850 Stanwick
Stanwick's picture

You're the expert

Tue, 03/06/2012 - 14:37 | 2228981 fuu
fuu's picture

Just keep breathing Allen.

Tue, 03/06/2012 - 14:16 | 2228849 SillySalesmanQu...
SillySalesmanQuestion's picture

Awwwwww.....

Tue, 03/06/2012 - 14:22 | 2228894 Sandmann
Sandmann's picture

Jeff Skilling gets 24 years in Englewood because he played Enron like a Bank even though he had only been a First City banker. he obviously upset the guys on Wall Street for copying their scams. They don't like the Oil Patch ever since Penn Square showed them how the scams were done. Corzine will probably run for President

 

http://www.nytimes.com/1985/06/23/books/mickey-mouse-in-oklahoma.html

Tue, 03/06/2012 - 14:25 | 2228917 Amish Hacker
Amish Hacker's picture

"Politics: the conduct of public affairs for private advantage."

 

The Devil's Dictionary     Ambrose Bierce

Tue, 03/06/2012 - 14:32 | 2228957 djsmps
djsmps's picture

If you are Warren's buddy, even if you are caught red-handed like David Sokol, no jail time for you.

 

Tue, 03/06/2012 - 14:38 | 2228985 williambanzai7
williambanzai7's picture

STANFORD CORZINE

Tue, 03/06/2012 - 14:39 | 2228989 Yellowhoard
Yellowhoard's picture

I propose a pay per view Texas Cage Fight.

Corzine vs. Stanford

Chainsaws and Whiskey Beeeee There!

Tue, 03/06/2012 - 14:48 | 2229054 Bam_Man
Bam_Man's picture

Got lube?

Tue, 03/06/2012 - 14:56 | 2229088 junkyardjack
junkyardjack's picture

Apple is too big to fail.  The government needs to issue iPads to all employees ASAP

Tue, 03/06/2012 - 15:42 | 2229310 NotApplicable
NotApplicable's picture

You may be joking, but it's happening all over as governments spend money on iPads in order to pretend to save by becoming "more efficient." In reality though, it's just creating new hoops to jump through and new bottle-necks to get stuck in.

One of the fake efficiency operations I've seen lately is the idea of using your phone to pay for parking at a computerized meter. Sure, it sounds good, as "it will increase revenue" because as we all know, everybody that parks at a meter wants to pay, but gee, they don't have any change. (so goes the rhetoric)

The reality? Worse service. Old meters are duct taped over, so you cannot feed them coins, but instead have to go to a pay station up to half a block away, which is buggy as all get out.

Entropy. take me away!

Tue, 03/06/2012 - 15:15 | 2229176 Dermasolarapate...
Dermasolarapaterraphatrima's picture

The kid down the block just got 18 months for joy riding...too bad the boy wasn't smart enough to steal $1.6 Billion.....would not spend a day in the slammer.

Tue, 03/06/2012 - 15:22 | 2229210 Vince Clortho
Vince Clortho's picture

2:20  Dow at -147

Its almost ppt time

anyone up for a ramp-up?

Tue, 03/06/2012 - 16:22 | 2229565 Nobody For President
Nobody For President's picture

1516 New Yawk time and Dow is down -216.  (1.68%)

 

The PPT ain't gonna be able to do it today - it may ramp up a bit, but my stops are in well above entry (TZA) - fuck em all. At 1520 New Yawk, the ramp is trying to start - I'll side bet you they are gonna fall short, and it will ramp down about 1535 to close.

Tue, 03/06/2012 - 16:01 | 2229400 Catullus
Catullus's picture

I don't think Stanford did anything seriously wrong. The charges were basically that he misrepresented the "safety" of the investing vehicles. Federal prosecutors in the trial then attacked how not "safe" the investments really were and then did a full court press on character assaults. Of course a Houston jury finds him guilty, they believe anything a prosecutor tells them to believe to pretend to themselves they're "tough on crime and criminals".

Had the Fed let some more money market funds break the buck, you could put many more fund managers up on the same charges as Standford. Just saying, there are no safe investments. Not even gold or silver to the extend that they can be stolen.

Corzine is a different story. They flat stole the money through the semi-legal means of collateral calls to his buddies at other banks before it collapsed.

Tue, 03/06/2012 - 16:23 | 2229572 Nobody For President
Nobody For President's picture

Free Jon Corzine!

(Oh, wait...)

Tue, 03/06/2012 - 17:38 | 2229921 FubarNation
FubarNation's picture

http://www.youtube.com/watch?v=-omsGm2hyIM&feature=related

 

Johhny boy should be shitting his pants.

Tue, 03/06/2012 - 18:48 | 2230161 ejhickey
ejhickey's picture

Meanwhile , Eric Holder was busy giving a speech yesterday in chicago explaining why the President has the right and the duty to kill american citizens whom he believes are a threat without a trial .

Tue, 03/06/2012 - 20:21 | 2230456 azusgm
azusgm's picture

I'd move back to Houston if I could be on a jury with Eric Holder as the defendent. He is a terrorist.

That is not an exaggeration.

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