The following lines are a direct quotation from Mihir Bose’s blog posting regarding Allen Stanford, and his ability to pony up large sums of cash for cricket, on the BBC site.
Mihir Bose, for those who do not recognise the name, is the BBC’s sports editor, and as such, has always trumpeted the line that he knows, or gets to know, just about everything to do with sports.
“Perhaps the most striking thing he said was that the credit crunch and the coming economic collapse does not affect him.
He was not in the sub-prime market, he is full of cash, his business is growing and he is confident that even if the world crashed around him, the Stanford brand would be secure.
Yet Stanford cannot escape the question: have the events of this week not damaged his brand and, indeed, cricket?”
Funny how tunes change! Due Diligence indeed!