Allen Stanford sentenced to 110 years in prison

[malaise]

http://blogs.wsj.com/deals/2012/06/14/allen-stanford-sentencing-the-arguments-from-both-sides/
<snip>

Convicted Ponzi-schemer R. Allen Stanford has just been sentenced to 110 years in prison, marking the latest chapter in a case that has captivated parts of the financial world for three years.

The government has come down on Stanford as more than just some white-collar criminal. In a blistering sentencing proposal, prosecutors sought a life sentence of 230 years for Stanford, calling him a “ruthless predator responsible for one of the most egregious frauds in history.”

Stanford, however, sought only “time served” according to the government’s filings. He maintains that his operations were not, in fact, a Ponzi scheme at all, given he was actually investing the money in real-estate and other properties.

That left a wide gap of time and beliefs between the two sides, and the court came down at 110 years.

Here are some of the more memorable points from their filings about the sentencing.

[Nuclear Unicorn]

1. Nice, except for the damage already done. n/t

[Scootaloo]

3. He should have bought a bank first

That way he could argue, "It's not a scam! it's the vagaries of the investment markets!" and probably end up with a bailout.

[kenny blankenship]

4. Stanford and Madoff are scapegoats

The government has come down on Stanford as more than just some white-collar criminal. In a blistering sentencing proposal, prosecutors sought a life sentence of 230 years for Stanford, calling him a “ruthless predator responsible for one of the most egregious frauds in history.”

LOL! Compared to the heads of the five families -GS, BOA, WFC, Citi and JPM - Allen Stanford took a few apples off a fruit vendor's stand without paying. Stanford and Madoff get eleventy brazillion years in prison apiece to cover up for the fact that the big criminals aren't even being prosecuted. Holder is acting now in his official capacity as Wall St.'s lead counsel.

[HiPointDem]

7. +1. Seems these prosecutions are more about weeding out the competition.

[Octafish]

5. He supported buy-partisanship.

http://www.thedailybeast.com/articles/2012/03/07/bipartisanship-republicans-and-democrats-both-want-to-keep-allen-stanford-s-money.html

[malaise]

6. A brilliant DUzy