James Gill: Stanford scandal touches election season

It’s been five years since Allen Stanford’s massive Ponzi scheme unraveled, but his victims, many of them in Louisiana, have failed to get a penny back. Investors who were similarly swindled by Bernard Madoff in New York, however, qualified for payouts up to $500,000 from the Security Investors Protection Corporation. Louisiana’s U.S. senators, thirsting either for justice or votes, have taken up the cause. Although they may not be able to spring any money for constituents suckered by Stanford, they can seek a measure of revenge for the SIPC’s refusal to bail out the investors he left in the lurch. More in the IND here.