Former Director of Research for the Stanford Group Company's Policy Research
Not Clearly Pro or Con to the question "Should Insider Trading by Congress Be Allowed?"
"In order to enforce [the Stop Trading on Congressional Knowledge Act] you would have to officially make secret, and make confidential, all sorts of meetings and documents. That would require such a fundamental change in our government that I don't think it's going to work."
"Insider-Trading Ban May Extend to Members," The Hill, May 17, 2007
As of Mar 6, 2009, approximately 1,000 employees of Stanford Financial Group (SFG) and its affiliates (collectively referred to as Stanford) were terminated. These employees made up about 85% of Stanford's employees in the United States.
The US Securities and Exchange Commission (SEC) on Feb. 17, 2009 charged Robert Allen Stanford (Chairman of Stanford Financial Group), three of his companies (Stanford International Bank, Stanford Group Company, and Stanford Capital Management), the Chief Financial Officer of Stanford International Bank, and the Chief Investment Officer of SFG of an $8 billion investment fraud scheme. The US District Court for the Northern District of Texas, Dallas Division ordered a receivership to take control of all assets and records of the defendents and entities under their control.