Wall Street Folly

It's Official: We've moved! Our new home is www.wallstreetfolly.com

Please join us over at our new Wall Street Folly site.  We're still working out some kinks, but it's up and running! (Note, if for some reason you're not directed to that site, keep trying.  It gonna take a bit for the redirection of our wallstreetfolly.com url to be propogated through the system.)

Are they really saying these wacky things?: White House Kool-Aid servers say economy will expand at 3.5% annual rate by the end of the year; Allen Sanford a U.S. government informer???

CNBC interview with Allen Stanford: He claims there's no Ponzi scheme, that he's no Madoff, that the SEC destroyed his business and he's gonna fight

A tearful / near tearful 'Sir' Allen Stanford is interviewed by ABC News; On comparing him to Bernie Madoff: "Bullsh--. That's bullsh--"; He hates flying commercial: "They make you take your shoes off and everything, it's terrible". The indignity!

Set your Tivos -- 'Sir' Allen Stanford is being interviewed on the World News with Charles Gibson at 6:30.  He's expecting a federal grand jury indictment within the next two weeks.  And if you see him photographed in the same clothes over and over in the future, it's because the feds left him with little money and not a whole lot of clothes in the seizure of his assets.....

Forbes billionaires list: The hedge funders and private equity guys

FINalternatives has culled through the Forbes list for all of the alternative investment guys who are represented.  Notably missing: Allen Stanford.  Here's the list:

Merrill will be in deep doodoo if they misled Congress on those bonuses; Stanford flips off the SEC and pleads the Fifth; 2 new Ponzi schemes; Will bank bondholders take a hit?

Merrill may have misled Congress on bonuses: Cuomo Stanford pleads the fifth amendment SEC Accuses California, Virginia Firms of Running Ponzi Scams Banks’ Bondholders May Be Next to Share Bailout Pain Lions Gate, Icahn End Talks on Investor’s Board Role

Jon Stewart skewers CNBC on "The Daily Show"

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

Jon Stewart skewers CNBC, Rick Santelli, Cramer et. al  on his "Daily Show" last night. It's a trip down memory lane.  A must watch. (8:29)

Allen Stanford headlines: Elbow rubbing with the royals; The luxury life; What does Sir Allen have in common with Anna Nicole Smith?

• The famous faces that fooled Stanford clients
• Stanford's luxury lifestyle of yachts and private jets laid bare
• Sir Allen Stanford: how the small-town Texas boy evaded scrutiny to become a big-time 'fraudster'
• RPT-Lloyd's has Stanford exposure,not for client funds
• To Catch a Mini-Madoff
• Stanford’s Top Talent Hailed From Small Mississippi Town
• Stanford Clients Can’t Get Cash, Close Accounts, Receiver Says
• Stanford projects in limbo on island of St. Croix

Allen Stanford's parents are relieved he's been found

Allen Stanford's parents spoke to Reuters:

Allen Stanford headlines: He's still MIA; Stanford's dad can't believe it; More egg on SEC faces; Stanford a tax dodge with rug cartel links?; Mexican probe; Venezuelan gov't seizes bank; Run on the banks continue

• Stanford’s dad disbelieving
• SEC faces fresh controversy over Stanford
• Billionaire’s investment clients in painful limbo
• Disgraced banker Stanford didn't pay his own taxes
• Stanford 'drug cartel' links
• Mexico regulator probing Stanford unit
• Stanford: Signs That Should Have Worried Investors
• Venezuela government seizes failed Stanford Bank
• Stanford Lured Clients With ‘No Worry’ Promise, Rates
• S.E.C. Fines Didn’t Avert Stanford Group Case
• Savers besiege Stanford banks