Never spelled this out before so might as well do it now.
Pols are alphas — really ambitious guys — who are, with very rare exceptions — too dumb, with too little to offer, to succeed in the private sector where you have actually have something more to offer than just begging for love. (Even now where, if you have any sense, CEOs look pretty dumb and inept themselves.)
So I don’t expect pols to actually know anything.
Which of course in no way makes the following right.
We’re learning that one of the ways Sir Allen Stanford plied U.S. lawmakers was through a little-known non-profit group called the Inter-American Economic Council. At one point, the group was focused on easing the restrictions that the Patriot Act imposed on offshore banks like Stanford’s. Zack Roth has the background on Stanford’s relationship with the group — and pictures of Stanford attending an IAEC event with lawmakers in Washington.
Late Update: I’m not sure “little-known” is the best description of this group. Last year’s keynote speaker at IAEC’s annual awards gala, which is held at the headquarters of the Organization of American States in Washington, was Rep. Charlie Rangel (D-NY). In 2006, when Sir Allen was given the group’s top award, President George Bush and First Lady Laura Bush were the honorary co-chairs of the event. Tickets for this year’s black-tie affair, set for next Friday, are $500 apiece, and sponsorships of the event go for as much as $250,000.