The life of a whistle-blower isn’t easy. Ask Richard Bowen who was the canary in the coal mine when it came to the Financial Crisis of 2008. He battled not only the forces of his mega-corporation, Citigroup, where he was an executive, but also the federal government, which he says pretended to investigate his allegations but actually covered some of them up.
A campaign donor for Rick Perry let the presidential candidate use his private jet to fly to campaign appearances in Iowa and South Carolina. The donor is under investigation by both the Securities and Exchange Commission and the Texas State Securities Board. Is this what Sarah Palin meant when she criticized “crony capitalism”?
Have you heard of the risky investment called a life settlement? You buy someone’s life insurance policy (they receive a big cash buyout), then you continue to pay the premiums until that person dies. You get the benefits. Regulators say there’s lots of fraud in these so-called death bets. Texas refuses to regulate.
Not everyone hurt in the horrendous scandal involving Texas financier R. Allen Stanford lost money. Thousands of investors lost access to their money for nearly two months while the federal government investigated 50,000 Stanford accounts. When these investors asked how they could get their money and pay their bills, nobody bothered to answer them.