U.S. Sen. David Vitter, R-Metairie, says he will hold a committee hearing for the Senate Banking Committee in Baton Rouge on Aug. 17 to investigate the Stanford Financial Group. Vitter says the committee has an obligation to investors to determine how the alleged Ponzi scheme occurred, “where the regulators failed and how we can try to mitigate any losses for the victims.”
Some of the topics to be included in the discussion are the timeline of the Stanford investigation and the roles of the Securities & Exchange Commission, the U.S. Department of Justice and the FBI. The hearing is tentatively set for 2 p.m. at the Louisiana State Police Training Academy auditorium building at 7901 Independence Blvd.
