Gekko Was Wrong: Greed Is Not Good

We’ve become so numb to news of financial scandals that “Sir” Robert Allen Stanford’s apparent $8 billion CD scam has already fallen below the fold.

Stanford Financial’s genially optimistic website is still up, where I found the above quote in a recent issue of The Eagle, the company’s magazine.

The symmetry is unsettling: Launched in one depression to provide hope, Stanford is likely to collapse in another due to greed.

As I’ve asked before: Should we ever trust another financial services ad again?