1000 more jobs....Stanford whacks 85% of U.S. workforce. (tier, company, interest)

[70Ford]

1,000 of Stanford Financial's U.S. workers get the ax | Business | Chron.com - Houston Chronicle

About 1,000 workers in Stanford Financial Group’s U.S. offices — 85 percent of the company’s U.S. employees — lost their jobs Friday.

The court-appointed receiver in control of the company’s assets, Dallas lawyer Ralph Janvey, issued a statement saying he had concluded that keeping them on the job wasn’t in the interest of preserving whatever money is left because there are “insufficient resources” to keep paying the workers.

[floridasandy]

the available resources are probably needed to make mr. sanford and other top tier criminals and their families comfortable. as usual, the SEC is asleep at the switch and we have the same people still in charge at the SEC. the rich get richer and the middle class gets laid off. i see that madoff might negotiate a plea deal and i have to ask why would he get a plea deal from anybody?