Money! The root of all evil ? It is also the root of all misfortunes.From Michael Milken, Ivan Boesky to Bernard Madoff, they all have the same weakness......GREED FOR MONEY and lots of it.
The man who should take the biggest blame for the biggest financial meltdown in history would have to be Alan Greenspan.The progenitor of the preponderance of deregulation.His deregulation of the financial system has brought mountains of credit mismanagement never seen before in the financial world.It will be a long and arduous journey to recover from these messy affairs.More dirt are coming out. More and more bankers and financiers have turned crooked trying to save their crumpling business empire.Some are just latent crooks that manifested over time.
The latest addition to the 'rogues gallery' is a Texan financial cowboy with the title of 'Sir', knighted by the island nation of Antigua and Barbuda, a dot so small on the world map you could hardly find it. With tons of money he probably paid for the knighthood.He practically bought half of Antigua and most of its politicians.This larger than life figure had donated substantially to sports and politicians including campaign funds for McCain and Obama.
Meet Sir Allen Stanford, big spender,financier, billionaire, con artist and fraudster. Here is his story.
Here are his sins:
Here are his victims:
The irony is everyone of them are philanthropists.So the next time you see a rich man donating to charity he may be donating other people's money.
Are there anymore safe investments left in this world?