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In Interview, Stanford Plays World's Smallest Violin

Texas billionaire Allen Stanford has given ABC News his first interview since being charged by the SEC with orchestrating a massive Ponzi scheme. And he doesn't offer a sympathetic portrait.

Amid protestations of innocence -- "I would die and go to hell if it's a Ponzi scheme," and "if it was a Ponzi scheme, why are they finding billions and billions of dollars all over the place?" -- Stanford revealed he expects to be indicted by a federal grand jury in the next two weeks. (A senior official at the Justice Department told ABC News the case is "moving along rapidly.")

But several of Stanford's expressions of self-pity will likely strike most non-billionaires as far from sympathetic:
*He lamented how the charges had deprived him of being listed by Forbes as the 405th wealthiest person in the world.
*He complained about being forced to fly commercial after the government seized his fleet of private jets. ("They make you take your shoes off and everything, it's terrible.)
*And he reasoned: "I'm the maverick rich Texan where they can put the moose head on the wall. And that's the only reason they went after me." Because rich Texans always get a raw deal.

Some other choice nuggets: Asked whether he ran a scheme similar to Bernie Madoff's, Stanford replied: "Bullsh--.That's bullsh--. It makes me madder than hell and it touches the core of my soul."

And asked whether he was being probed for laundering Mexican drug money, as has been reported, he responded: "If you say it to my face again, I will punch you in the mouth," before backing down and calling the allegation "an absolutely ludicrous thing to say." He added: "Any bank, any organization, financial organization the size we are, you cannot be sure, a hundred per cent sure that every customer you have is clean."

ABC described near Stanford as "near tears throughout the interview."

Late Update: ABC News has now posted the video of the interview:

Here are some more good quotes from Stanford:

- "I always lived very frugally. I flew around on a private jet. I had a boat. But I always lived very frugally. I'm not a high-fallutin guy."
- "What people have always said about me is that I'm more in touch with the valet and the maitre d' than I am with the president and CEO."
- "Effing right I'm gonna fight."

It's also worth pointing out that the video makes clear that ABC's Brian Ross caught up with Stanford apparently on a city street. So this wasn't a prearranged sit-down.


29 Comments

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Sounds like the kind of stable, level-headed guy I want securing my retirement nest egg.

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Graduated with honors from the Blagojevich School of Evasive Posturing.

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Lots of legitimate businessmen decide that the best way to answer allegations of impropriety is not to answer investigator's questions, but instead to hide from authorities and try to fly to a country without extradition. Fortunately for him, I don't think there's going to be a lot of plane flight in his future. People go to jail for stealing $100. Be interesting if people who steal a million times that had a proportionate punishment. Otherwise the lesson is, if you're going to steal, steal billions.

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GTFOOH:

Torture. Is. Not. Funny.

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Who's talking about torture? I'd just like to see him receive some enhanced interrogation.

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I interpreted it as a joke about prison rape. Are we really supposed to find that funny?

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It made me chuckle. I'd never seen "Abu Ghraib" made into a verb before.

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Hilarious.

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Cripe, you people are pills. If you have no sense of humor, have the common courtesy to keep it to yourself.

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pills

You are quite right.

Now, bend the fuck over so I can shove this pill up your scurvy ass.

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Some people don't belong in the blogging public, if they are too sensative to take a joke. What this guy did to the lives of people is worse than prison rape and he deserves any ill-will that can be adminsitered to him. And on a personal note, I see that the original comments, which were not vulgar in any way have been taking down by the moderator. I find this kind of sensorship outrageous and beneath the usual level of discourse that takes place on this blog. One squeaky voice should not allow the discussion to be halted. Afterall, nobody is insisting that they participate in responding to this post! Zach, you need a better understanding of what the term Freedom of Speech means!

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this kind of sensorship outrageous

You are certainly justified. It must really fry your grits when you are almost clean away out of the store and that damn sensor sets off the alarm.

I believe you might profit from the addition to your burglar kit of a foil-lined "booster bag". I am given to understand that the rf id chip (aka "sensor") cannot snitch you off from inside a foil-lined container.

Happy Boosting!

Oh, and just in case the foil bag fails you, you can strip the foil from the bag and fashion it into an appropriately sized plug, so as to protect you from the jokes and pleasantries of your fellow detainees, who, one can only hope, will not have been familiarized with *penal rehabilitation theories.


*No childish snickers on the penal/penile thing--we are not Beavis and Butthead here....oh wait, GTFOOH may wish to differ on that.

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Not:

"Top of the world, Ma! Top of the world!"

But:

"Boohoo! I skinned my knee and soiled myself!"

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I like how ABC titled it a 'Tearful interview'.

What? I didn't see a trace of moisture anywhere near his eyes.

Strange. You'd think Glenn Beck and him could get together sometime and put their heads together and come up with a way to actually produce tears when they're pretending to cry like the pathetic, morally vacuous scammers that they are.

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This is precisely the sort of person for whom the French invented the guillotine.

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I thought the background music was especially appropriate. Nice to see some journalism being done.

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Well, you've got to admit that flying coach IS Hell.

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If he thinks that hell, imagine what it's going to like for him when he's sharing a jail cell with Bubba or, more succinctly, what it will be like for him when he's flying the 'Bubba Express'.

Expect 'lots of turbulence.'

Could be rough.

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Rats. I wanted to hear him whine about getting knocked off the Fortune 500. Life is so unfair. Bwaaaaaaaaaa!

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I gather from other stories that he is from Mexia, TX, at least his father lives there. Mexia is a little one horse town even for Texas. The standing joke is that a visitor happened to stop by the DQ while going through and asked how to pronounce the name of this place. The answer was "Day ree Kween"

By the way, Mexia is pronounced "meh hee a"

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I'm a little teary-eyed about rich Texans getting raw deals. I didn't know they were so persecuted.

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Just wait until I tell you about how persecuted Christians are in this country...

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oh, that's... rich. I'd be happy to make that allegation to his face, duck his lame attempt at a punch, and sock that mofo right in the gut, leaving him doubled over.

welcome to the real world, "sir". please remove your shoes.

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"What people have always said about me is that I'm more in touch with the valet and the maitre d' than I am with the president and CEO."

Hmmm, what's a valet and maitre'd and why does he not pronounce the 't' in valet and how come he adds an extra syllabul 'd' for matred?

Why doens't he capitalize P for president?

What's a CEO?

I guess I should ask: In touch with whom? Certainly not me. I don't have valet's and maitred's and CEO's in my life nor do I have much cause to pronounce things by their frenchified ways.

Nice to be a billionare, aint it.

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Should have said: "You're not MAN enough to punch ME in the mouth, you wossie . . . "

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This SOB's head is so fat, we'll have to go to the Big and Tall Men's Store for a proper guillotine.

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I think all you angry villagers should put your pitchforks down until Stanford has had his day in court.

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