James Stanford, "chairman emeritus" of Stanford Financial and father of you know who, spoke with the Houston Chroniclelast night re: you know what. He actually comes off pretty sincere in his worry for Junior, making us want to shake the (maybe) rat bastard and shout, "You're killing your father!" Choice excerpts below:
Q: How did you find out (about the SEC's charges)?
A: I was called by some people, friends of ours, who'd seen it on television... and I said, "What in the world?" I'd spoken to him a week or so ago--he'd called--about problems with the business climate in general, but nothing of this magnitude. I cannot imagine, I cannot believe, I will not believe what is being alleged actually happened.
Q: And have you spoken to your son since all this happened?
A: About last week, maybe last Thursday or Friday he called.
Q: And what did you all talk about?
A: He just told me to watch the papers, the Wall Street Journal and all that. He said something, stuff that had been rumored, but nothing like this. Anyway, that's what I know.
Q: Did you try and reach him after you found out yesterday?
A: I tried one time at a number we had and it's a cell number, but we couldn't get through to him.
Q: So he's in Antigua?
A: I don't know where he is. I could not answer that. What I hear that they're looking for him. That's what I heard on television, so I do not know. I cannot believe that my son would run.
Q: Are you worried about him?
A: Yes, I'm worried for his safety. You know, he's my son.
Q: Do you know how they (Stanford Financial Group's companies) made the returns that they did? Because they were doing so well, even though the market wasn't.
A: Relatively well over a period of several years. And it's due to a lot of outside counsel and good advice and we had a research office in Memphis Tennessee that's done a lot of work, some very bright young people that specialize in certain fields, that specialize in their research, and it's not just going to a brokerage house and buying stocks or buying anything. They've done their own research. And that's enabled the company to do well enough.
Q: Did you know the company was being investigated? Were you interviewed by investigators?
A: No. I was not aware that it was being investigated. I'm not totally surprised. They're investigating somebody somewhere all the time. I'm not surprised. You live long enough, you come to expect things.