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(Austin Statesman)   Stanford found guilty of operating $7 billion Ponzi scheme, having lamest mascot ever   (statesman.com) divider line 50
    More: Dumbass, Ponzi scheme, certificates of deposit, Antigua, found guilty, financiers, R. Allen Stanford, Austin American-Statesman, wire fraud  
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10810 clicks; posted to Main » on 07 Mar 2012 at 3:02 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-03-07 03:05:27 AM
lets see how many high profile celebs get the US government to reimburse them for the money they lost by investing poorly.

/cue nelson muntz
 
2012-03-07 03:06:03 AM
Timber.
 
2012-03-07 03:09:40 AM
I'm so excited, I'm so scared.
 
2012-03-07 03:09:57 AM

urban.derelict: lets see how many high profile celebs get the US government to reimburse them for the money they lost by investing poorly.

/cue nelson muntz


They've got plenty of cash, fark em.
 
2012-03-07 03:12:00 AM
FTFA: "Stanford's attorneys highlighted his work to build up Antigua's economy as well as his philanthropic efforts there. Stanford, the island's largest private employer, was known as "Sir Allen" after being knighted by Antigua's government."

Sounds like someone should have gotten his ass to Antigua, instead of hanging out in houston.
 
2012-03-07 03:12:18 AM

chaosweaver: They've got plenty of cash


not. anymore.
 
2012-03-07 03:14:21 AM

urban.derelict: chaosweaver: They've got plenty of cash

not. anymore.


Point. Taken.
 
2012-03-07 03:17:44 AM
I guess he broke the cardinal rule?
 
2012-03-07 03:21:00 AM
If they dig around more of the hedge funds I bet they'll find at least 5% are ponzi schemes.

The real problem with ponzi schemes is no one plans the crash. If you plan the crash from the start you could declare insolvency in a legitimate fashion and say there were bad investments. I bet Greece is going to be the scapegoat in a few dozen people closing out ponzi's.
 
2012-03-07 03:21:57 AM
It's such an obviously terrible mascot that it is actually wonderful.
 
2012-03-07 03:41:39 AM

wildcardjack: The real problem with ponzi schemes is no one plans the crash.


Exactamundo.
 
2012-03-07 04:06:11 AM

thegod082: It's such an obviously terrible mascot that it is actually wonderful.


Absolutely. It's absurd. I love it.
 
2012-03-07 04:07:32 AM

wildcardjack: If they dig around more of the hedge funds I bet they'll find at least 5% are ponzi schemes.

The real problem with ponzi schemes is no one plans the crash. If you plan the crash from the start you could declare insolvency in a legitimate fashion and say there were bad investments. I bet Greece is going to be the scapegoat in a few dozen people closing out ponzi's.


You can't just declare "OOPS bad investment!" and have everyone go home saying shucks. There gonna need to see where and why. No, what people should do when they plan the crash is kill everyone involved. That'll learn em
 
2012-03-07 04:14:02 AM
Its bark is worse than its bite.
 
2012-03-07 04:17:27 AM

Loucifer: wildcardjack: The real problem with ponzi schemes is no one plans the crash.

Exactamundo.


wildcardjack: If they dig around more of the hedge funds I bet they'll find at least 5% are ponzi schemes.


/*COUGH*COUDH*FEDERAL RESERVE*COUGH*
//but it's the government's ponzi scheme, so that makes it LEGAL
 
2012-03-07 04:32:51 AM

wildcardjack: The real problem with ponzi schemes is no one plans the crash.


That's because they're all idiot enough to think they will be the one to get away with. The longer they get away with it, the more invincible they think they are. If not for hubris, this guy could have easily gotten out at, let's say, $6 billion. That's plenty. You don't need $7 billion.
 
2012-03-07 04:36:38 AM
Banks are ponzi schemes. They only hold a small percentage of your deposits at one tie. If there was a run on a bank, they would collapse.
 
2012-03-07 04:38:35 AM

wildcardjack: If they dig around more of the hedge funds I bet they'll find at least 5% are ponzi schemes.

The real problem with ponzi schemes is no one plans the crash. If you plan the crash from the start you could declare insolvency in a legitimate fashion and say there were bad investments. I bet Greece is going to be the scapegoat in a few dozen people closing out ponzi's.


graphics8.nytimes.com

hotlink
 
2012-03-07 04:46:29 AM

thegod082: It's such an obviously terrible mascot that it is actually wonderful.



A farking pine tree? Why not a dandelion? Or a wheat sprig?
 
2012-03-07 05:09:17 AM
Banana Slugs.
 
2012-03-07 05:25:55 AM
cdn-www.cracked.com

Go Wooden Shoes!
 
2012-03-07 05:28:57 AM
cdn-www.cracked.com

Go Nimrods!
 
2012-03-07 05:38:00 AM
I read the article twice. I can't find anywhere where it mentions his mascot.
 
2012-03-07 06:01:57 AM

MissesThePoint: I read the article twice. I can't find anywhere where it mentions his mascot.


Did you look at the pic? He was sporting wood.

Sporting. Wood.
 
2012-03-07 06:09:28 AM

intelligent comment below: Banks are ponzi schemes. They only hold a small percentage of your deposits at one tie. If there was a run on a bank, they would collapse.


If you're right, then the Fed is a Ponzi scheme and so is the entire federal government. The sad news is, you're right. And we're screwed.
 
2012-03-07 06:11:25 AM

Mr. Right: intelligent comment below: Banks are ponzi schemes. They only hold a small percentage of your deposits at one tie. If there was a run on a bank, they would collapse.

If you're right, then the Fed is a Ponzi scheme and so is the entire federal government. The sad news is, you're right. And we're screwed.


Didn't someone call Social Security a ponzi scheme and get bashed for it even thought that's exactly what it is?
 
2012-03-07 06:13:59 AM
Gee, thanks...I was blissfully unaware of Stanford's mascot. So I googled it.

Looks like something Lovecraft would dream about after a night of heavy absinthe drinking:

http://www.footballbabble.com/football/college/mascots/

The RISD one is hilarious...
 
2012-03-07 06:23:56 AM

Mearen: Mr. Right: intelligent comment below: Banks are ponzi schemes. They only hold a small percentage of your deposits at one tie. If there was a run on a bank, they would collapse.

If you're right, then the Fed is a Ponzi scheme and so is the entire federal government. The sad news is, you're right. And we're screwed.

Didn't someone call Social Security a ponzi scheme and get bashed for it even thought that's exactly what it is?


It's what it became when Congress decided that they didn't need to hold and invest the "contributions," rather they should put it in the general fund and waste it like they do with so much of the money they get their hands on.

Can you imagine explaining to an investment counselor that you actually have a lot of money for your retirement because you put it into your savings account but that you spent it on hookers and blow in the meantime but it's really there because you put it in there at one time. See? Here's the IOU.
 
2012-03-07 06:27:39 AM
Hey, subby: Please, make sure you send us all to a farking autoplay video with some newsdude shouting. Nobody's sleeping in the house at 6 a.m.
 
2012-03-07 06:49:46 AM
They are a college which means they have been operating a scheme for years, it's called tuition.
 
2012-03-07 06:54:39 AM
As gay as that mascot is, at least it has street cred. I seem to remember it getting arrested a couple time a few years back, once while the guy was still wearing it i believe. I just vaguely remember hearing it on sportscenter.
 
2012-03-07 07:36:52 AM

Mearen: Mr. Right: intelligent comment below: Banks are ponzi schemes. They only hold a small percentage of your deposits at one tie. If there was a run on a bank, they would collapse.

If you're right, then the Fed is a Ponzi scheme and so is the entire federal government. The sad news is, you're right. And we're screwed.

Didn't someone call Social Security a ponzi scheme and get bashed for it even thought that's exactly what it is?



AMERICA is a ponzi scheme.
We're the Madoffs, our children/grand children are the poor investors who are going to be left scratching their heads, wondering, "where'd it all go?!!?"
 
ZAZ [TotalFark]
2012-03-07 07:50:38 AM
Stanford faces up to 20 years for the most serious charges against him - which include conspiracy, fraud and money laundering - but he could spend longer than that behind bars if U.S. District Judge David Hittner orders the sentences to be served consecutively instead of concurrently.

Sentencing guidelines say he should be sentenced consecutively with the maximum sentence on each count.
 
2012-03-07 08:11:11 AM

medius: MissesThePoint: I read the article twice. I can't find anywhere where it mentions his mascot.

Did you look at the pic? He was sporting wood.

Sporting. Wood.


I must be looking at another article. There was no one sporting wood.
 
2012-03-07 08:16:31 AM

MissesThePoint: There was no one sporting wood.


4.bp.blogspot.com
 
2012-03-07 08:50:44 AM
The 'Tree' is not the Stanford mascot. It is a member of the band. Stanford has no official mascot. Just sayin'...
 
2012-03-07 08:58:44 AM

medius: Its bark is worse than its bite.


Let's ask the Cal Bear about that, shall we?
oblig (new window)
 
2012-03-07 09:26:29 AM
To those bootstrappy libertarian types who claim that we don't need Social Security and that all people need to do is invest in their own nest egg, I provide this jackass as Exhibit A for saying otherwise.
 
2012-03-07 10:45:08 AM

farkingismybusiness: I'm so excited, I'm so scared.


You need to lay off the caffeine.
 
2012-03-07 11:13:16 AM
EABOD, Subby.
 
2012-03-07 11:36:41 AM
The Stanford's mascot's a tree. Cal's bear rubs his itchy, shiatty bear-ass on that tree, is what.

Go Bears!


/grandfather, '28
//mom, '56
///me, '94
 
2012-03-07 11:54:26 AM

AngryJailhouseFistfark: /grandfather, '28
//mom, '56
///me, '94


... only way you could get in was as a "Legacy", eh?


/doesn't really care, but loves talkin' smack!
 
2012-03-07 01:11:08 PM
I was there when the administration insisted that the mascot could never again be the Stanford Indian. There was a huge amount of energy spent arguing over what the mascot should be. The band insisted that we should be the Stanford Trees because the school logo features the redwood that gave Palo Alto (tall tree) its name. The student body overwhelmingly voted for the Robber Barons (which would have been an awesome mascot IMO.) The athletic department wanted to be the Griffons because of some lame statues outside their building at the time. The administration decided to ignore everyone and declared the Stanford mascot... Cardinal, the color, not the bird or mid-level Catholic heirophants. The color. The band in typical fashion said "fark you we're the trees because we say we're the trees." And now you know...
 
2012-03-07 01:30:41 PM

PunGent: Gee, thanks...I was blissfully unaware of Stanford's mascot. So I googled it.

Looks like something Lovecraft would dream about after a night of heavy absinthe drinking:

http://www.footballbabble.com/football/college/mascots/

The RISD one is hilarious...


All right now: "There is no official mascot at Stanford University." = lamest mascot ever.

/Go Bears!
//EECS '93
 
2012-03-07 01:33:31 PM
Look up the mascot for the Rhode Island School of Design.
 
2012-03-07 02:57:11 PM
I love the Cardinal!!!!
 
2012-03-07 03:19:23 PM
Let's see how quickly Antigua goes broke.
 
2012-03-07 06:41:00 PM

Alonjar: FTFA: "Stanford's attorneys highlighted his work to build up Antigua's economy as well as his philanthropic efforts there. Stanford, the island's largest private employer, was known as "Sir Allen" after being knighted by Antigua's government."

Sounds like someone should have gotten his ass to Antigua, instead of hanging out in houston.


[getyourasstomars.jpg]
 
2012-03-07 11:29:28 PM

AngryJailhouseFistfark: The Stanford's mascot's a tree. Cal's bear rubs his itchy, shiatty bear-ass on that tree, is what.

Go Bears!


/grandfather, '28
//mom, '56
///me, '94



You would probably appreciate that when I roll home on my bike past furd, there's a certain tree I stop to piss on near the golf course. Especially when I'm wearing my Cal kit. Such simple joys.

\GrrrrRAH
 
2012-03-08 12:24:34 PM
Cancel headline. This story had nothing to do with the school of Stanford. With the mascot of who cares? lets say lion. that no one really gives a crap about.
 
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