Want to see more pictures of Jim Davis, Laura Pendergest-Holt, their Tupelo office and their Baldwyn homes? Click here.
Laura Pendergest-Holt presenting at an Ole Miss banking symposium in November 2008
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An excerpt (full text) from today’s Daily Journal:
BALDWYN – Laura Pendergest-Holt is the youngest and perhaps most unlikely member of the Stanford Financial Group trio accused of an $8 billion fraud.
The Baldwyn native, now 35, “had no financial services or securities industry experience” before joining SFG in 1997, according to the U.S. Securities and Exchange Commission.
Yet less than a decade later she was managing more than $15 billion in assets and running a worldwide team of equity, policy and sector analysts, Pendergest-Holt told the Memphis Business Journal in 2006.
Her rise to the top might seem improbable, but Pendergest-Holt had a killer combination of beauty, brains and connections. She knew key players in the Stanford firms, was an expert number-cruncher and has been described as strikingly beautiful and statuesque.
“Laura Pendergest may have had no financial experience, but she is also not unattractive,” remarked one commentator at Business Week’s online forum.
Read our previous Biz Buzz coverage of the fraud allegations against Stanford.
Why is this girl being put up on a pedestal and described as being so sharp, brilliant, strikingly beautiful, etc? We’re not talking about a beauty contest. We’re talking about one of the MAIN players in one of the biggest frauds in U.S. history. I hope she is punished to the nth degree, if found guilty. I don’t care how pretty she is. What about all the people that will probably lose all their money in the CD’s that she helped put together.
Maybe she’s not so brilliant , after all!
The AP article that was on page 5A kinda puts this story in perspective. A former employee of Stanford says it was Pendergest who trained employees how to deflect questions from clients about the investment strategy.
Guess memory has come back and she is telling all to seek immunity. She trained others how to be evasive and deflect questions about ‘the firm’….she knew nothing….guest speaker ….she’ll do great with the feds…..maybe not so well with her friends, church family, fellow Missippians who have invested and lost so much….May she always rememeber…..she knew!
Business today has largely become about image. Branding, not reputation, drives purchase decisions. An aura of success is more important than actual quality or value. In this recession, a lot of smart people who are average looking will lose their jobs, while a fair number of idiots will get to keep theirs simply because they look good and project a certain image. If people don’t want to get taken by fraudsters like Stanford or Madoff, they have to look beyond the images of wealth and connections they project, and ask the hard questions. What is your audited performance? What do you intend to do with the money I invest? What sort of records and documentation will you provide to prove you are doing what you say? Are these securities registered with any authority, is there any insurance? What makes you better than other, more mainstream investment options? People, ask questions, or you’ll end up paying for the next Stanford’s Gulfstream jet or the next Madoff’s Manhattan penthouse.
Check this web site from all her fan !!! http://www.sibfraud.com
nice foto of little small-town laura
Beauty, brains….am I missing something? Sorry, I just don’t seem to see either. Criminal….yes. Doesn’t matter how well you did in school or what degrees you may have earned. Actions speak way louder than words. Does anyone else see the irony in all this talk of her education? Nice. Tell it to the folks who, because of this fraud outfit, may not even be able to send their children to college now.
I have known Laura Pendergest-Holt for 16 years and consider her one of the best friends I have ever had. She is a brilliant individual in every sense of the word and everything she has acquired in her career has come from honest hard work, high standards and a work ethic most people could not come close to matching. While I have never had the kind of resources of the investors at Stanford, I would trust her whole heartedly with every cent I have ever earned. It is easy to sit back and make a judgement against someone that you do not know and rely on what the media tells you. The media has been quick from the beginning to flash her photograph and assert that she has been arrested when in fact this is a “CIVIL” complaint, not a criminal one.
Have any of you even questioned the motivation of the individual(s) making these assertions against her? If all of this was going on and and for so long, why is it just now coming out? What EVIDENCE has the SEC shown other than the hearsay of one or two individuals?
I would not defend Laura or anyone else that I loved and cared for if I had the slightest doubt of their innocence. I have no sympathy for anyone that commits a crime. I believe that if you did it, you own it. I trust that the truth will exonerate Laura completely. Until the FACTS come out, Judge not lest ye be Judged.
gibson you’re talkin a set of garbage based on personal acquaintances
this woman will be shown to be a crook in the courts
get used to it
Nelly, perhaps you shouldn’t be so quick to discredit the personal knowledge someone may have lest you find yourself being discredited as quickly in the future.
Exactly. Are you telling me that you TRUELY believe that Laura Pendergast-Holt, the firm’s chief investment officer, was completely ignorant of an $8 BILLION scam ???
The government has been watching them for years. Go type in “Stanford Drug Cartel” on Google. Three different countries have been investigating links between Stanford, of which Perdergast-Holt is again, CHIEF INVESTMENT OFFICER and some of the world’s bloodiest drug smugglers.
Even though Stanford manages an obsene amount of money(over $43 billion), this scam accounts for 1 out of 5 dollars.
Do you still believe the CHIEF INVESTMENT OFFICER didn’t know ???
This info does not originate solely from biased media. Its from official press releases from the SEC, FBI & CIA !!!
I happen to be a Federal Investigator myself with years of experience and it is possible to find individuals who have taken information in “good faith” provided to them by their superiors that was inaccurate. In turn they have passed on that information believing in good faith that what they were providing to be accurate and true, even in a situation of this magnitude. I have read what the SEC, FBI and other agency’s allege. I am not ignorant of complaint nor do I defend Laura based on the assertions of a “faulty media”. I know from experience that the complaint does not disclose a fraction of the detailed information that is held during an investigation and often times what you thought you had the ability to prove at the time is not as strong as you believed once the investigation is complete.
I hope that should any of you ever be in a situation where your integrity and livelihood are thrust into doubt that you would have people that supported you and believed in your innocence until otherwise proven in a court of law. The point is, I know this person and I know her character. You do not. I believe in her but if the evidence should PROVE anything contrary, I will fully support any punishment deemed to her. I make no exceptions for anyone. So, until her day in court arrives and judgment is passed by the authority of the court to show otherwise, I will continue to support and defend Laura.
you gotta be nuts ‘I will continue to support and defend Laura’?
Gibson, at least tell us who you BELIEVE to be the guilty party then.
Just Stanford ? Stanford and Davis ?
If I’m Pendergast-Holt, and one of my best buddies is a Federal Investigator, then I’m talking to them about everything !!!
What DO you know ?
If you want us to believe you haven’t formulated an opinion, you are mistaken.
People don’t come onto a blog to talk about how we should wait to have an opinion. Its to express our opinion. Even better, we might change our opinion. How you like them apples ???
I also have known Laura for over 16 years. But I do not know every detail of her life. Sure, she always presents herself as friendly and trustworthy, etc. but guess what; good people sometimes do bad things. People need to expand their horizons in regards to this story – google some of this info. and you will be amazed. The Stanford group has been looked at suspiciously for a long time; drug money etc. I do not know who knew what, but I am also not green enough to believe that someone in her position built her career around complete “good faith” information that she was being given. If she is indeed as intelligent as she is being given credit for, then surely she would have realized what was going on. You can not be a key player and not realize. Crazy to think otherwise.
Smooth Criminal.
I just don’t see where one can be the Chief INVESTMENT Officer of a company and not be able to account for billions of that company’s dollars. It just doesn’t make sense.
The only knowledge that I have of the investigation is exactly what each of you and the entire free world have available to them. As difficult as it is for most of you to conceive that a person in Laura’s position would have no knowledge or involvement, it is just as difficult for me to conceive of her being involved in something that would defraud investors and violate public trust. Everyone is entitled to their opinion and I have not attacked any of you for yours. I have simply asked that you hold judgement until everything is put on the table. It is hard to see someone that you care about judged so quickly by people that do not know her. I agree there are many people out there that are capable of putting up a front while commiting heinous acts. I do not believe Laura to be a person capable of doing these things, it is as simple as that. If I did not know Laura, I would likely have the same opinions that many of you do right off the bat. In addition, if you paid attention to everything that I said, you would have noticed that I strongly support any punishment handed down to Laura should the facts prove her guilty of an offense. Until that day comes, I believe in her and I support her. Should the facts prove her guilty, I will still support her as a friend should, however it will not be without great disapointment and heartbreak. Beyond that, I have nothing further to comment.
IUPG has no bearing outside a jury room.
Who is she? We all know slum dog millionaire won at Oscars. Perhaps time to shoot a movie called “White Trailer Trash Billionaire”, about a few people who grew up in a trailer park in Baldwin, MS to become one of the biggest scam artists in the history of this country!
Ken Lay and Bernie Madoff were great guys too, outstanding philanthropists, etc.
And crooks.
With her arrest today, Pendergast-Holt joins an elite group of scumbags.
I agree with ‘WhatGoesAround’… It like being a Wide Receiver in the NFL and not knowing what’s in the playbook.
Gibson illustrates one of the biggest problems with federal law enforcement: too many investigators are clueless, horrific judges of character, too lazy to dig beneath the veneer of “community leader, philanthropist, church member” etc. We have seen this repeatedly, from spy cases to numerous financial fraud cases–more than a dozen in the past few months (all from “upstanding” citizens, their friends and associates and government regulators, assure us. It sure looks like this woman was involved in the theft of peoples’ dreams, education for their kids, health care for loved ones, and on and on. As a chief INVESTMENT officer, she had an obligation to know for certain where the money was. She should be prosecuted even if, somehow, someway, she managed to remain clueless-which is a fairy tale.
Like my Mom used to say..Time will out.Who says she’s a hot number? All I see is teeth and glasses on someone who is not so intelligent or slick.She got busted right?
Gibson — your friend Laura is resting comfortably, I’m sure, in the federal detention center in Houston. Something about lying under oath and whatnot. First criminal charges filed in the Stanford saga.
Media: “Pendergest was hired with no securities experience, therefore she’s gotta be guilty.”
Hmmm. She’s 35 now, hired 11 years ago. She was 24. Stanford Financial hired her right out of college. OF COURSE she didn’t have any experience yet, but the media is making that out to practically be a crime. I’ve met her. She really is extremely smart and works her butt off.
And then there’s all the negative entries above that condemn her without knowing more than the most superficial facts. Gibson’s right to ask you morons to withhold judgment, but I won’t be so kind. All of you idiots that have posted your snide, derogatory comments above, completely disgust me. You remind me of the KKK in the Old South or the Nazis on Kristallnacht. (Don’t know what that is? Look it up when you’ve learned how to read.) You people are the ones who give white trash a bad name. White trash are usually narrow-minded and dumb. All you supercilious slimeballs are narrow-minded, dumb AND vicious. Please, do the world a favor, sell your computers, buy some cheap rotgut and drink yourself into a months-long stupor. We’ll all be better for it.
sticks and stones will break my bones but words will never hurt me and I think birds of a feather flock together is true too.I’m from the old school and I think some people should have their ears pinned behind their head.
she is going down, right where she should be… She was never supposed to be there in the first place
Boy HHFAh if that’s the case that’s sad
well she is down in the pit and i hope she stays there… she never worked for what she achieved, well i stand corrected – she did “work”
Our country is divided between the “Have” and the “Have Nots” … once you’re introduced to and move into the “Haves” elite club, you’ll do anything to stay there because psychologically we’re programmed to “Fit In” with our peer groups and fear of being rejected from your “new” peers once you’re “In” is real…There is a lot of power in these human psychological principles. This is why your moms didn’t want you hanging with those undesirables; This is what allowed the 3rd Reich do what they did; Enron; Tyco International; Joe Nacchio (Qwest Communication); MCI … Ect, Ect, the list is exhuastive.
I would bet my hard earned money that the people sticking up for Laura Pendergest-Holt are from the “HAVES”.
This is actually a microcosm of real class warfare going on today!
“The government alleges in a federal complaint that Pendergest-Holt obstructed the investigation with some of her answers to SEC investigators’ questions.”
Honestly, how long can you Baldwynite’s and former colleauges sit there with your fingers in your ears ?
Here we are on the World Wide Web, and you are still formulating opinions without reading the current information.
They’ve caught her lying NUMEROUS times.
This is a classic M.O. of fraudsters – hire someone young and inexperienced, co-opt them with ridiculous compensation for their experience level and use them to do your dirty work. Charile Keating did the same thing. If you beleive the FBI affidavit, her 11 years with Stanford have apparently taught her mainly deception. Now she will get some real life experience with plea bargaining and perhaps make some new friends in a women’s correctional institute. I’m sure they will welcome a hottie like her with open arms.
if she’s so brillant, whatever happened to the smell test! You are all a bunch of wannabee hopefuls, that is what is required to support your greed in decision, you think the risk reward equation is going to change because you want to believe it!
Gibson is problem a federal chicken inspector — grammar and punctuation do not suggest profile of a high level federal investigator.
correction:
Gibson is PROBABLY a federal chicken inspector…
Con artist or not, she is smoking hot. Maybe she’ll pose nude to raise money for her defense.
Bobo B – I think you’re on the right track. If a 24 yr old hottie becomes CIO of a $15B fund, chances are she’s doing the boss.
Somebody wanna translate what k38roger said? He/she lost me somewhere.
Tupelo23 – I think the point that k83roger is trying to make is that Stanford investors have only themsleves to blame since they should have known better than to think they could earn high returns with low risk. Same could be said for Madoff investors.
While people should remember the adage “If it sounds too good to be true, it probably is”, you can’t just blame the victims. People who steal large sums of money through fraud need to be held accountable.
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She has always been a smart girl who has always thought she was smarter than everyone else. When you think your that smart you think your invincible and everyone else is an idiot. Narcissistic
personality disorder. She didn’t think for a minute she’d be caught because “she’s so smart”
Turns out the “dumb people” weren’t quite as dumb as she thought…and she wasn’t as intelligent as she perceived herself. …..and those “dumb” people won’t be eating white bread and bologna sandwiches in the slammer like she will.
boohoo – I’ll bet bologna sandwiches won’t be the only thing she’ll be eating in prison . . .
gibson, you’re a fool. there’s a reason she and davis hired all those homefolks from Baldwyn MS to be so-called “analysts.” I mean Ken Weedon???? What a clueless moron that idiot is. One of those “analysts,” a genuinely nice guy, but completely clueless, was hired because he was cutting Jim davis’ grass with a tractor and bushog. There is no way in hades that much investment brainpower could come from one small town in MS. She’s a egotistical, showboating crook. But I’m sure Jim davis enjoyed her true talents many times.
My Question is how many of you know her personally? I do. I have know her and her family (late mother, sister, late grandmother) my whole life. I do not think she was totally stupid about what was going on nor do I think that what she did was right. But some people who make comments about her and the boss and about her thinking she is smarter than everyone needs to meet her. She is one of the nicest people you could meet. Granted she messed up, but dont attack her on things you know nothing about. With that said i personally think that if she is found guilty she should punished. But what everyone else should do is pray for the ones who were taken advantage of and the good people who worked there and now are without jobs. There are quite a few who worked for Mr. Davis that are good people but now they have a cloud over their head. Guilt by association
“she is one of the nicest people you could meet” one post states. Give us a break. If your doctor is nice and kills you or our investment firm steals all your money, why is that even a factor? This is one of the huge problems with America–”nice” and “would enjoy a beer with the guy” have replaced competence, honesty, and integrity. It sure looks like she was a total crook-and stealing peoples life savings should receive the harshest sentence possible. Now one question is why the FBI has the ‘B’ team on Madoff with no apparent progress. And why isn’t Stanford in custody, hopefully a situation that will change shortly so he can relax in one of his villas with a tall one (assuming he doesn’t flee or check out in the interim).
Biz, do you ever get the feeling you’re a teacher trying to keep a bunch of first graders — me included — in line?
This girl is sure pretty. Lovely for her fellow female inmates she will have to share a small space with for the next 20 years. Hope she likes sharing… everything.
I have no doubt that Ms. Pendergest-Holt’s “killer combination of beauty, brains and connections” will allow her to get some special favors at the minimum-security federal prison she’s no doubt headed for. Extra phone calls, more junk food, a sweet job in the prison cafeteria…
She may even be given a lighter sentence as a result. Let’s hope that she’s adept enough to cover up her narcissism and sociopathy during the sentencing period of the trial. Those of us who play be the rules really have no understanding of how much we are at the mercy of these folks.
Read “Severe Personality Disorders” by Otto F. Kernberg if you want to educate yourself on how these people operate among us.
clrthought – you are absolutely right on. It’s amazing that almost always when someone is revealed to be a total fraudster their personal friends say “that can’t be, he/she is such a nice person,” like being a nice person means you can’t be a crook. In fact, having the ability to project a nice personality is a prerequisite for being a successful grifter.
Tupelo23 – If you think this blog is out of hand, you should have been on the Wall Street Journal’s law blog yesterday afternoon before it was censored. The WSJ referenced this Biz Buzz post suggesting that Ms. Pendergest-Holt’s stunning good looks were a factor and that unleashed a torrent of hilarious posts. There were suggestions of gang banging, anal intercourse, fellatio and speculation as to whether she shaves her pubic hair – on the WSJ law blog no less! Quite entertaining until the WSJ staff shut it down and removed most of the posts around 4 pm. The link is http://blogs.wsj.com/law/2009/02/27/first-to-be-charged-in-stanford-case-laura-pendergest-holt/.
Cro Magnon, it just goes to show we’re a little more dignified in Mississippi than they give us credit for being. And no, I don’t think this blog is out of hand; I was just ribbing The Biz for having to do a school marm routine.
Jim Davis, Laura Pendergest-Holt, Bernie Ebbers.
Betcha they were all good, church-going Christians.
Betcha they feel no guilt about how many people’s lives they destroyed — ’cause they are “forgiven.”
Con men and women have always flocked to Mississippi. We are under-educated, gullible and greedy, and we don’t think that government should monitor us or those who take advantage of us.
Have any of you questioned the timing of her arrest ? She is the one that has been targeted as the most likely “snitch” since day one. If she is found guilty of interfering with the investigation, she will definitely see some jail time.
A priviliged southern belle from Baldwyn, MS will turn on the other two in a heartbeat !!!
She doesn’t want to go to jail. She wants immunity.
Even the way they arrested her. She claims she was going to start cooperating with the investigation THAT DAY.
My guess, Jim Davis is in serious trouble.
Just for the record, I’d like to state here clearly that I’m kinda tired of folks using this to bash Christians. I am a Christian, and I get SO tired of seeing people use the actions of a few people to wrongly denigrate an entire segment of people. It’s no more fair to do this than to say because A-Rod used steroids that means all baseball players are steroid freaks and you shouldn’t have anything to do with them, or that because one black man commits a felony then all black men are just felonies waiting to happen. Fact of the matter is we are all human and we all fail. Accepting Jesus Christ as your savior doesn’t mean you’ll never sin again. In fact, anyone who has grown in his or her Christian faith will state very clearly that once a person accepts the free gift of salvation it’s almost like they are under even more temptation to sin because Satan knows very clearly that if he can discredit one Christian the world will use that against all believers. That being said, shame on these folks for doing something so wrong and for so long. We all make mistakes, but as believers we know we have a choice to make — admit our guilt when it first happens, ask God and others for forgiveness, and accept any repercussions that may come our way for the deeds we’ve done. To live in an ongoing/continuin sinful pattern — all the while suggesting to the world that you’re an über Christian — is what truly grieves the Holy Spirit within us and is injurious to our faith or the potential faith of others. And I do believe Stanford, Davis and Pendergest-Holt will pay for what wrongs they’ve done. And, if they are indeed Christians — I’m not questioning that here because it’s not my place to judge whether someone has accepted Christ as I can’t see in their heart and know what they truly believe — they will have to not only pay for their deeds here on earth, but will also have to answer before God when they meet him face-to-face. We are called to be different than the unsaved when we accept Christ, and this behavior is the exact type of thing that has the potential to cause someone who may have been considering faith in God to turn away because they see no difference in themselves and someone they know has espoused Christianity.
Now, PLEASE don’t use their misdeeds — or alleged misdeeds, as I feel legally compelled to write — to denigrate all Christians. Just as I said before, it’s no more fair to do this than it is to accuse all white people of being racist because someone somewhere used a racial epithet. And if anyone wants to discuss this in more detail over lunch sometime, I’ll be happy to oblige. But be prepared to go Dutch (I ain’t wealthy) and be prepared for me to witness to you.
Tupelo, are you saying that all bloggers here should think like Christians?
Part of the problem with making a statement like,
‘I get SO tired of seeing people use the actions of a few people to wrongly denigrate an entire segment of people.’
Is that you’re lumping your ideology based on a shared mentality of Your “segment of people”… and sticking up for your peer group. This is what proliferates scams and cons in the first place… if everyone thinks and acts alike, then nobody is wrong…
Oh, I’m sure that there are some great Christians out there — just as there are great Muslims, Jews, and atheists. But I’d rather people demonstrate their faith through actions, not self-proclamation, such as Jim Davis and Laura Pendergest-Holt (or George Bush) seem to be so willing to do.
And if Tupelo23 wants to have lunch with someone, I’d suggest having lunch with prostitutes, publicans, and tax collectors. I haven’t heard of too many contemporary Christians that actually do that. Come to think of it, during most of my life, Mississippi’s white Christians didn’t even want to have lunch with people whose skin is a different color. Seems like we even had laws against it.
C Hill, how do you know I don’t already? You seem to want to judge without investigating. Best I can tell, my offer was to anyone, not just a select few or certain people from select socioeconomic backgrounds. Don’t be guilty of what you accuse others of doing — prejudging. Your statement is exactly what I’m talking about — taking the actions of some and applying guilt to all because of that. And we on the right are the ones accused of not having open minds. . .
Dan, I’m not suggesting all bloggers here think like Christians, unless being fair and non-prejudicial are thought patterns belonging only to believers. What I’m suggesting is that all people, no matter their beliefs, would be better served if we didn’t cast a pall upon all people in a group because of the actions of one. Is it right to say all people who call themselves Muslim are terrorists? Absolutely not. Is it right to call all bankers thieves because one steals from his or her clients? No. And I disagree that the notion of fairness would proliferate scams and cons. Just the opposite, fairness discourages such actions. Now I know this isn’t some utopian world where everything is all well and good. And I know it’s a waste of time to think there will not be prejudice in this world (see C Hill’s statement toward me). But what I am suggesting is that if we would stop classifying entire groups of people — or castigating them — based upon the actions of one or a few, then the world would be a better place.
most con men/women were nice people, is that really that hard to see or grasp….that what helps lets your guard down. most were very giving as well….its easy to give when you didnt really earn to begin with. if all cons were huge pricks all the time most folks would be able to see them for what they were.
what they did was wrong….and how theyve acted their entire lives towards you or anyone else really has zero baring on this. as far as religion, they just took advantage of that as well….playing up the god card, if you will.
all three should be happy to go to jail if they really were tied into to drug cartels…..otherwise theyre close to meeting their maker and getting to explain their side of the story once again.
I think C Hill makes a good point – not that Christians are bad, but the hypocrisy of con artists posing as religious people. Just as Jim Davis probably goes to church every Sunday, Madoff probably goes to temple every Saturday.
As bigwoolymammoth correctly points out, if con artists acted like gangsters, they couldn’t con anyone.
As to C Hill’s comments about Mississippians being gullible, I think most of Stanford’s victims were wealthy international investors.
Going back to the original suggestion that Ms. Pendergest-Holt’s looks were a factor in the scam, I think they probably were. Most men have an override switch in their brain that shuts off the rational part when in the presence of a very attractive female. I suspect that Sir Allen, who seems like a slick snake charmer, made the initial set-up with investors, then brought in his Chief Investment Officer to seal the deal. When a hapless investor saw her, his brain locked up and he was finished.
All I’m saying is it’s a never ending arguement… To believe people will think and act completely autonomous will never happen…
I was just talking to someone about how GOOD things can come out of the economy doing bad. For a long time now corporate America was shoving down our throats the image of MONEY = SUCCESS. But now since economy is faultering, we’re uncovering the true nature of the corporate mentality and all it’s willing participants… It’s like turning over an old rock and looking at the scavengers scatter so they’re not exposed… we needed this.
As the old adage goes, ‘you can steal more money with a suit and briefcase, than you can with a gun and ski mask.’ … this has been the consensus for awhile now.
In a free enterprise, Money DOES equal success.
Thats why our forefathers faught Britian in the first place. In America, the entire idea is: If you work hard, become the best at your trade, you will become wealthy, thus provide a better life for your family.
Ever heard of capitalism ???
Oh wow! So Great Britain does not have capitalism? I thought the issue was no taxation without representation and the freedom and equality of all men (specifically the white ones who were 21+ and owned land) based on natural and unalienable rights. But then again, you know I could be wrong. I am just going by the textbooks I teach out of and their interpretation of the history of our country. BTW last time I checked Adam Smith was Scottish.
There are three defendants named. While the SEC and Justice know much more than is being reported in the press, they will need (even) more to successfully prosecute and secure guilty verdicts or secure lesser admissions under plea arrangements with the higher-ups in the organization. These people will all no-doubt secure reasonably talented legal advisors.
The lowest in the rank of organization hierarchy and responsibility is seemingly Ms. Holt. I seem to recall on numerous occasions reading strategies from the Justice Department and RICO cases where a large group will be taken all at once under indictment. The lowest ranking members will then be brought in first, in an attempt by authorities to get them (in return for a plea or qualified level of immunity) to reveal details which further incriminate and establish the illegal detailed acts of the members above them in the organization.
It would seem to be this “first” arrest follows just that pattern. It puts pressure on all parties in a forced ranking order. The CFO and CEO are now wondering what Ms. Holt is being presented (in terms of alternatives) and how she will be advised by her attorney to act. I would expect it will take some days for Mr. Davis arrest followed shortly thereafter by a formal arrest of Mr. Stanford.
Just a guess.
Who gives a s**t how much brains she has or if she is “statuesque” or what Ivy she graduated from. I want those responsible behind bars for a very long and painful time. If she’s tall I’m sure they will find a prison uniform to fit. This isn’t a beauty contest.
she’s got legs, she knows how to use them.
Seeing her in handcuffs is such a turn on . . . I wonder if they strip searched her?
Wow! what sort of mentalities are on here!I appreciate a intelligent comment.Anyone can think nasty…
Hey Fruity-golfer, I know what capitalism is buttstink, What I’m referring to is an IMAGE of success…not the intended definition of actual ‘working hard’ success. In true capitalism ‘Money DOES equal success’ only if obtained in a level playing field and it is obtained in an ethical manner. What corporations have been doing for a long time is controlling the supply chain , therefore, making it impossible to compete… Someone born into povety today has a lesser advantage than someone born into prosperity…is that the capitalism you’re referring to? … I’m sure Adam Smith wasn’t taking into account inherited wealth. He was a professor at Glasgow who taught moral philosophy. It took him 10 years to write “wealth of our nations”…If he wrote it today, it would take him 6 months and with a good logo with a good distributor he would prosper…. What’s going on today is anything but moral.
Islanne, Adam Smith WAS Scottish. He lived there until his teens, and then left Glasgow for OXFORD UNIVERSITY. He spent the rest of his life in a virtual 50/50 between England and Scotland.
For those of you who don’t know, these places are on the SAME ISLAND. THEIR BORDERS TOUCH FOR GOODNESS SAKE.
Scotland had only been an independent state for a decade before Smith was born.
BUT, WHO CARES ???
From a pure ECONOMICAL standpoint, I stand behind my statement.
When families fight, over 70% of the time its about money, regardless of their social position.
Taking this discussion into religion, sociology, philosophy, etc. is useless. None of us will EVER agree.
BUT, numbers don’t lie.
Adam Smith, father of the Modern Economics ??? Richard Cantillon beat him by 40 years.
Keep your elementary history in the coloring books.
So I guess Adam Smith was just more successful than Richard Cantillon…oh wait did he make more money than him?? hmm…
I realize that Scotland and England are part of Great Britain. The fact that Adam Smith was a citizen of the now UK was meant to help underline my point that the American Revolution was not a fight for or against capitalism, which is what you wrote. By the way I teach at a major four year university, and we don’t use coloring sheets (at least not in my dept).
Oh by the way. Isla is a Scottish name, my mom was born there. Even though England and Scotland are part of the same country there is a lot of bad blood (but I will spare you another history lesson) and Adam Smith hated his time in England that is why he returned to the land of his birth. So anyway, I don’t need a lecture on British history. I was just trying to set you straight on a point of order about the founding of our country.
Oh, don’t pout because somebody else has read a book or two.
Surely you can admit that in our CONSUMER DRIVEN system, more money means you’re doing better than the competition ??? At least, from a purely ECONOMICAL standpoint.
Now if you want to talk about how “Money is the root of all evil” or “Money can’t buy you happiness”, thats a different discussion(one that noone will agree on).
If you want to take the discussion into HOW the money was obtained, the majority has already spoken. If it was obtained illegally, EVERYONE in this discussion said that’s BAD.
At least that would apply to the original discussion.
DAN, you’re such a downer. You make me think we might as well have stayed in Britain. According to you, all we’ve done is trade rule of Redcoats for Red Power Ties.
FTG:
I am not pouting. I am glad other people are reading books and if we all agreed it would be pretty boring on here. However, I do agree with you on many points (not just on this post topic but on others). I just thought you were good humored enough (based on previous posts of yours I have read) to take a friendly point of correction intended to make your main arguement stronger. If you had said something more like “The American Dream is fueled by capitalism” then I would tend to agree. I am glad we fought for the freedoms that we did and I (and my mother now as well through naturalization) are proud to be Americans. By the way, wasn’t Cantillon born in Ireland? I just didn’t expect you to take it so personally. I didn’t get all high and mighty about my education until you accused me of teaching history that belongs in coloring books. Sheesh!
Thanks Islanne, I’ve already seen “Braveheart”.
Good lord, I’m not over here steaming over your comments. I’m just having fun too. The “Elementary” comment was the Smith vs Cantillon thing. Heard that debate a million times. Parts of Smith’s work is almost word for word.
Just ready to see this discussion move back to the original topics.
The CD scam & The drama of the 3 people involved.
I’ll throw in a virtual hug as a bonus.
XOXO
Oooh Braveheart. Maybe I should show that to my class. I bet I could find some good coloring pages for that one! Unfortunately this post deviated from the origninal topic along time ago. I think “buyer beware” is an appropriate quote for the current situation. Unfortunately, like you said earlier, on some level we all (warning use of generalization) equate money with success. If someone is wealthy we want to know the name of their financial advisor. There are commercials on TV everyday on how to emulate successful people. I think people’s desire to have more (or greed depending on the excessiveness of the situation) often overides the knowledge that if something is too good to be true than it usually is. I am not alleging that Stanford investors are greedy or stupid, I am speaking about basic desires that we have. This does not of course alleviate Stanford employees who may have done illegal or immoral things of the bulk of the responsibility in the fiasco. I am just saying that they perhaps preyed on basic human characteritics. I think we all have the possiblitly of being taken by some one, no matter our intelligence or education level. I don’t just meant on a financial level either. People fall in love, join cults, give money to relatives, and do all sorts of other things that allow them to be taken by other people, but just my ten cents worth.
I’m not trying to be a downer… I’m just stating that without moral and philosophical backing of some sort numbers CAN and DO lie….
Also, I don’t wish to see anybody suffer during this time, which some people are…I’m trying to point out the good that will come out of this downturn in the economy. I’m all for people pulling themselves up by the boot strings and prosper and I’m not saying everyone that does this is crooked either… however, inheriting wealth give you a much, much better advantage…
There are alot of hard workers out there that have great intentions, but due to financial reasons settle for jobs that don’t use their full potential. I’m sure Islanne can tell us a little about the attrition rate at the college he/she works… it’s not the rich dropping out.
Let her and Madoff swing from the gallows together….
Question for Laura: Can you get manolo blahniks in federal prison? Can you make everyone jump by showing your famous temper? You’re going down, little girlie, sing loud and clear and rat out your sexual partners who happen to have been your bosses….
Man, you know you are in the public’s eye when you wind up in a trashy post like this:
http://www.divorcesaloon.com/battle-of-the-billionaires-girlfriends-steve-wynn-and-sir-r-allen-stanford-compete-for-andrea
Gee whiz. Folks, if we ever start writing stuff like that, whop us over the head.
Stick her in a Nigerian whorehouse for 10 years – after that, she can start over again.
Markymark – do you write from personal knowledge or are you just speculating?
Just to set the record straight . . . . I worked with Stanford, Pendergest and Davis . . . . It wasn’t Stanford that hired Pengergest, it was Davis. It wasn’t Stanford that had a 3 year affair with Pendergest – it was Davis! Who knows what these two cooked up under the sheets! Lots of people know Pendergest to be a sweet Christian, I worked with her and I know she was a self righeous, egotistical maniac who slept with Davis for years to get where she is now – enjoy Laura!
It sounds like she needs re-education through labor.
Hey Jack…. I think we now ALL know what they were cooking up under the sheets. For the bloggers here that think Laura is the sweet young innocent fall girl, think again. She knew exactly what she was doing, exactly how to trample over people, exactly how to get what she wanted and now will hopefully get exactly what she deserves. No sympathy from the peanut gallery.
I’d like to do her in return for some of my money she stole–very hot! How much? We can negotiate that.
Wow…just WOW!!! Wouldn’t be a bit surprised to see the movie rights to this debacle sold. Beautiful half-wit sleeps her way to the top of a billion-dollar facade. Has all the ingredients beauty, sex, lots of money, lies, and drugs!! Way to go Laura have fun in Riker’s.
I only hope all the stories about prison rape are true. And that the guards let the dogs have their way with Laura.
Tough but fair.
In the end the crooks take care of their own. At the end of the day another group of crooks will divvy up what’s left.
Calm down guys. The main thing is that she is hot….hot hot hot.
That’s what matters. We are all entertained. Pretty soon we’ll forget about the money we lost.
She’s hot???????Where????All I can see is teethe and glasses..looks just like any other NERD!!!
Allow me to be blunt. With those teeth, she looks like a horse. I hope she enjoys being rode hard and put up wet, because she going to get plenty of that where’s she’s rightfully headed.
let’s not use the word ‘brains’ so lightly…
Laura Pendergest-Holt is 35 years of age as of 2009. She joined Stanford Financial Group in 1997. Therefore she joined at age 23.
I’m sure that she eventually discovered that there were illegalities to some extent, though she may have been scammed on. As young as she is, going in at age 23, there’s no way to kow–until throroughly research–whether she knew the seriousness of the issues. At age 35 now, that doesnt make her particullarly knowledgeable either.
Afterall, she was a Marketer. Marketers are given promotional materials and then told to go out & make sales. They do not get into the investing decision making—necessarily.
She’s going to make a nice Playboy Playmate!
Though 8-to-1 says that Playboy will not approach her if she’s convicted.
If she’s found innocent then Playboy will want her.
I was in Tupelo a few weeks ago and saw the Stanford office all locked-up. These people are criminals, folks. Anyone with any experience in investment management should have known that low-risk CDs do not generate the returns that these people were touting. BTW, I live in Houston, and it has been obvious for a long time that this Stanford guy and his chronies were shady. Coming right on the heels of the Madoff scandal, these people will deservedly get the maximum penalties. And so they should, considering the damage that has been done. At best, they’ll bankrupt themselves in mounting their defense, and then they’ll be radioactive the rest of their lives even if they somehow get off – which they won’t. Dick DeGeurin may be able to spare Stanford a few years of freedom at life’s end, but he’ll be too old and broke to enjoy it – and his boyfriends in prison will have wrecked his health. He should have been in the slammer years ago.
Too bad all this came so close to Tupelo. I had always liked the fact that it was a quiet place seemingly isolated from this sort of thing. The world is indeed getting smaller.
Bernie Ebbers received 25 years.
Bernie Madoff received 150 years.
Sir Allen is being held without bail as he is deemed a flight risk (no kidding).
The government is mad, by the time these guys and girl get their day in court they will be handing out 200 year sentences.