Commentaries

from Rolfe Winkler:

Sprott: Is it all a Ponzi?

December 28, 2009

In his latest missive to investors (pdf link here), Eric Sprott asks if our Ponzi economy is at risk of collapse. In fiscal 2009, foreigners scooped up $698 billion of Treasuries while the Fed upped its holdings by $286 billion. But the public debt increased $1.9 trillion. So who bought all the rest? According to Treasury, "other investors" bought $510 billion, up from just $90 billion in 2008. With the Fed's printing press turned off, the question for next year is whether "other investors" can buy more Treasuries than they did this year...

Finra messed up, what a shock

October 3, 2009

The report by Finra on its failure to detect the alleged Ponzi scheme at Allen Stanford’s offshore bank is no shock.

Kroll’s roll in the Stanford muck

September 11, 2009

Kroll Associates is the big name in the world of corporate investigations. But a former top gumshoe at Kroll has mud on his feet as a result of the firm’s past involvement with accused Ponzi mastermind Allen Stanford.

Madoff verdict: The SEC is plain incompetent

September 2, 2009

A lengthy report examining the many ways the Securities and Exchange Commission botched its investigations of Bernie Madoff tells us something we already knew: the SEC can be awfully incompetent.

Stanford receiver calls out Libya and rich ballplayers

July 29, 2009

The court-appointed receiver, defying the wishes of securities regulators, is going ahead with a lawsuit seeking to recoup $925 million from investors and former employees of indicted Ponzi schemer R. Allen Stanford.

Stanford investors get fleeced again

July 24, 2009

It’s bad enough being a victim of a Ponzi scheme. But it’s rubbing salt in the wound when the court-appointed receiver charged with cleaning up the mess makes things worse for investors fleeced in the scam.

Petters, the forgotten Ponzi

July 14, 2009

The alleged $3 billion Ponzi scheme involving Tom Petters has never gotten the attention it deserved.

What sentence should a Ponzi get

July 8, 2009

Federal prosecutors are sort of boxing themselves in when it comes to sentencing requests for big Ponzimeisters.

Stanford gets Madoffed

June 30, 2009

It appears the punishing 150-year sentence meted out by a federal judge to Ponzi king Bernie Madoff is already having legal reprecussions.

Tough questions after Madoff

June 29, 2009

Even as Ponzi king Bernard Madoff goes away to prison for the rest of his life and then some, there are still so many unanswered questions — both big and fundamental.