Reader comments
Utahns among Texans' investors

As the depression continues on... more and more of the scams will come to light.

Be prepared by testing the liquidity of the fund by rotating money in and out of them.

Also do not put all your eggs in one basket....

The rich greedy are having their fun right now preying on the humble so dont be stupid.

If someone or some company comes to you offering returns on investment of 15% or more, you better turn and walk away as quick as possible. In this time and economy there is ZERO chance of that being possible, no one can promise those kind of returns legitimately.

Buyer beware, people, buyer beware...

key word is Texas

Anyone who trusts anything out of Texas is a loser

Dear "Be Smart"

Good call! Depression, not recession. And now the taxpayer is to reward a bunch of crooks (40) with about a 1/4 billion dollars in "bonuses" for perfecting and polluting the world's financials with one of the most toxic of the toxic assets--derivatives! What's wrong with that picture????

Anonymous,

Don't trust anything out of Texas. That's right behind don't trust anything out of Utah.

One day people will learn not to toss their money on "to good to be true" investments. It's not just Texas, its in all states.
P. T. Barnum said, "There's sucker born every minute" And he was right.

I didn't realize unemployment had reached 30%. Wow, I guess I don't keep up with the news anymore....

In economic bad times if your neighbor is out of a job, it's a recession. If you are out of a job, it's a depression.

I feel sorry for the investors but not Sinclair Oil. They're getting the just desserts from buying oil from Venezuela.

The SEC lets someone offer a portfolio for 18 percent plus return.

Ever think we are investigating the wrong people?

Maybe we should investigate the SEC.

I'm sorry that people once again lost money in a ponzi scam; however, the greedy one are those who invested their money with the promise of an 18% return when 4% would be normal. You have to ask yourself what do these people know that alot of other people don't known? If you invest in an investment promissing 2 to 3 time the going rate of return, you DESERVE to lose your money. Also don't blame Texas (remeber LBJ came from the lone star state), or Utah, or the SEC; blame the greed of the individuals who are hoping to get rich quick. Also the largest ponzi scam is SOCIAL SECURITY, the government is paying the early investors with the money paid in by the newest investment and it will fail when the newest investers can no longer pay in enough to pay the earlier investors.

Lots of easy words about the foolishness of investors now that this has come to light. That is shameful and arrogant. It is terrible that the investors had their money STOLEN by those who obviously DEMONSTRATED reliable returns for quite some time and were supposedly fully vetted by over 20 investment firms that worked for their clients to protect them from such scams and advise them on where to put their money. Yes, most invested because their trusted broker made this a recommendation (that is why they hire them....)

Do those of you who want to throw stones at the investors know how many investments/companies exist that regularly and consistently make double digit returns for YEARS? Does trashing these people somehow make you feel better about yourself?

I hope these guys, if guilty as charged, get the same level of punishment as Madoff.

No one DESERVES to lose their money, especially their retirement. The regulators are collecting large salaries from us and don't appear willing to protect our interests. Course that shouldn't be too surprising if you look at who they go out to dinner and play golf with. It might save a lot of money to get rid of them. They are just creating a false sense of security. The SEC should be investigated in each of these cases, along with the theives!

For your information, Sinclair Oil does not buy oil from either Venezuela or the middle east. All of their crude oil purchases come from Canada. Next time check your facts before you spout off. As an employee of Sinclair Oil, I know these are the facts.

Please unzip so you can see daylight! I can't believe what I read. I would love to see what would happen to you in the middle of these investors and the Madoff investors. A lot of these "investors" are the ones that are doing good things for people. They support families. Please call Steven Spielberg's charity and let him know he deserved the Madoff scam because he was greedy. No one deserves this!! I am sorry you have such a low opinion of life and a hateful attitude.