If you want to pull your hair out at the foibles and lame, job-dropping activities associated with getting to the bottom of the Stanford financial investigation, I’ve got something for you.
Attached to this blog is the full report issued today (Thurs) by Sec of State Delbert Hosemann from a summer hearing he hosted in Jackson to learn more about how the system failed.
Bottom line: From 2003 until late 2007, the Keystone Cops were on-again, off-again checking into strong clues and secret tips, as well as their own questions, about whether anybody had the authority to do anything about potential monkey-business going on with the sale of CDs by Stanford International Bank in Antigua.
It’s quite unbelievable. Hope you’ll read it and marvel at how uncoordinated and ineffective this whole “protecting investors” mantra was.
Hosemann wants states to get back some investigative authority, and he wants the Fed SIPC to recompense Stanford investors to the highest degree possible. He insists if his office had known what was known by some investigators in 2005, SOS would have done some moving and shaking at the Stanford office in Jackson and averted a lot of grief.
Check it out… full story in today’s Daily Journal.