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Blumenthal, Good For Business?

"To blame law enforcement for unemployment,” said Attorney General Richard Blumenthal at a forum sponsored by some of the companies and industries he has sued, “is beyond wrong, it's silly and shouldn't be given any credibility. In fact it is a disservice to public service itself and to the law-abiding, hard-working business people.” The report from which the above quote is taken does not disclose the reaction from those in the audience to Blumenthal’s remarks, some of whom work for companies sued by Blumenthal. At an earlier debate with Democratic opponent Merrick Alpert, Blumenthal answered a charge that his many suits have had a deleterious impact on Connecticut’s job growth by charging that, on the contrary, they enhanced business activity and actually created jobs. This time, at a forum sponsored by some of Connecticut’s major companies, Blumenthal’s response was more polished and carefully modulated. Almost all business, Blumenthal said, have nothing to fear ...

Deja Madoff All Over Again

A Bernie Madoff clone, Texas financier R. Allen Stanford, has been accused of “cheating 50,000 customers out of $8 billion dollars” according to an ABC report , “but despite raids Tuesday of his financial empire in Houston, Memphis, and Tupelo, Miss., federal authorities say they do not know the current whereabouts of the CEO. “The Securities Exchange Commission alleges Stanford ran a fraud promising investors impossible returns, much like Bernard Madoff's $50 billion alleged Ponzi scheme. “Stanford's business is headquartered on the Caribbean island of Antigua. In the last decade, Stanford and his companies have spent more than $7 million on lobbyists and campaign contributions in efforts to loosen regulation of offshore banks. “Among the top recipients: Senator Bill Nelson (D-Fla.), Congressman Pete Sessions (R-Texas), Sen. John McCain (R-Ariz.), Senator Chris Dodd (D-Conn.) and Senator John Cornyn (R-Texas), one of the members who took a trip to Antigua where he was enterta...