From the party of Main Street

So another Madoff Like pyramid scheme is exposed in Texas and, just like Madoff, who do you think this guy was giving political contributions too.

The Texas financier accused by the Securities and Exchange Commission Tuesday of “massive ongoing fraud” was a generous political donor who gave more heavily to Democrats.

Since 2000, R. Allen Stanford, the chief of the Stanford Financial Group in Houston, his wife and company gave $2.2 million in political contributions – $1.7 million to Democratic candidates and committees – according to Federal Election Commission records.

The most recent donation on record was $300,000 from Stanford Financial Group to the Democratic Governors Association, a so-called 527 group not subject to campaign contribution limits.

Other big beneficiaries included the Democrats’ congressional campaign committees, which received $1.2 million over the years, and their Republican counterparts, which got $322,000, including a $28,500 personal donation last year to the National Republican Congressional Committee.

Stanford and his companies gave $128,500 to the Republican National Committee, plus $2,000 to Sen. Richard Shelby (R-Ala.), $4,000 to Sen. Charles Schumer (D-N.Y.), $4,000 to Rep. Charles Gonzalez (D-Texas), $4,000 to Sen. John Cornyn (R-Texas) and $4,800 to the committees of Rep. Charles B. Rangel (D-N.Y.), among other contributions.

More....