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On his show yesterday, Glenn Beck decided to finally confront Anthony Weiner's investigation of his Goldline scam -- in predictable Beck fashion:

Step A: Frame such attacks in a paranoid light -- "They're out to destroy me because I speak the truth to you!"

Step B: Double down on the scam by promoting it directly on the show.

Yet as Rep. Weiner noted:

"It is not surprising that Glenn Beck is attempting to deflect from his behavior in promoting Goldline," Weiner told Yahoo! News in a statement. "But the facts are clear. Goldline rips off consumers and Glenn Beck helps."

In the report (on Weiner's House website as a PDF), Weiner charges that Goldline "grossly overcharges" for coins and makes false claims about gold being a good investment. Goldline touts gold as a more solid investment in this economic climate.

The report says the gold retailer has entered "an unholy alliance with conservative pundits" — among them Beck, Fred Thompson, Dennis Miller, Mark Levin and Laura Ingraham — to "promote Goldline by playing off the fear of inflation."

"What we have found, by looking through the public records, is that very often they use their public programs to advocate purchasing gold, and then immediately, advertisements begin for Goldline," Weiner said in a news conference Tuesday.

As Will Bunch notes, Mother Jones just published a months-long investigation of the practices of Goldline and its gold-industry cohorts, and the results aren't pretty:

The price of gold has increased 133 percent since the beginning of 2006, yet many Goldline customers say they have lost money on their purchases after discovering—as Richardson did—that they had badly overpaid for their gold coins. Richardson is one of 44 people across the country who have filed complaints against Goldline with the Los Angeles BBB in the past three years; customers have also griped about their dealings with the company on message boards such as Ripoff Report and PissedOffConsumer.com. Regulators in Missouri have sanctioned the company for pressuring an elderly couple to liquidate their other investments to buy overpriced coins.

The Federal Trade Commission received 17 separate complaints about Goldline's sales tactics between early 2006 and May 2010, according to information obtained through the Freedom of Information Act. Many of those stories mirror Richardson's.

And of course, our favorite Insane Wingnut plays an important role in all this:

Beck, whose various media enterprises brought in $32 million last year, according to Forbes, has a particular interest in plugging gold. Since 2008, Goldline has been one of his most reliable sponsors, underwriting his comedy tours and investing heavily in his radio show. Last year, after Beck called President Obama a racist, and mainstream advertisers bailed on his cable show, Goldline stuck by him. And its loyalty appears to have paid off. In an email, Goldline's executive vice president Scott Carter says that while its Beck sponsorship doesn't bring in the majority of its customers, it "has improved sales," which exceed $500 million a year.

... The more worked up Beck gets about the economy or encroaching socialism, the more Goldline can employ those fears in pitching their products to his audience. But in putting his seal of approval on Goldline, "the people I've trusted for years and years," Beck has gone beyond simply endorsing an advertiser.

No doubt Mother Jones will be appearing on Beck's chalkboard soon, too.

Stanford was located early today and served papers in the case in which he's charged with massive investor fraud:

Feb. 20 (Bloomberg) -- Two days after being accused of massive fraud, billionaire R. Allen Stanford surfaced in a Virginia community about 50 miles south of Washington.

Federal Bureau of Investigation agents were waiting yesterday at a residence in the Fredericksburg area when Stanford’s car pulled up, according to a person familiar with what transpired. The FBI then served him court papers. He was described as cooperative and cordial.

Stanford, 58, accused by the U.S. Securities and Exchange Commission this week of running a “massive, ongoing fraud,” was served with papers related to an SEC civil filing against him and the Stanford Financial Group. Stanford, whose whereabouts were unknown to the SEC earlier in the week, was found with an unidentified woman.

The SEC sued Stanford and two aides on Feb. 17, accusing them of misleading investors about $8 billion in certificates of deposit in Antigua-based Stanford International Bank.

The FBI is investigating the fraud allegation, a person familiar with the case said this week. That investigation is separate from the bureau’s encounter with Stanford yesterday.

Just think how much money and effort it would have saved if the Bush administration had only enforced the rules that were already in place!

Dec. 21 (Bloomberg) -- The FBI has had to shift agents from terror and other crime work to Wall Street investigations including the alleged Bernard Madoff Ponzi scheme, said David Cardona, head of the New York office’s criminal division.

The Federal Bureau of Investigation has had to engage in “triage” in responding to successive frauds involving subprime mortgages, auction-rate securities and Madoff, who prosecutors said confessed this month to bilking investors out of $50 billion, Cardona said in an interview yesterday.

“We have to work those cases which we think pose the greatest threat,” he said. “In this case, it’s a threat to the financial system and Wall Street. It’s the same with mortgage fraud. I’m ramping these squads up.”

Special Agent Rachel Rojas, who once worked on tracing terrorist financing and al-Qaeda, now oversees 15 agents investigating mortgage fraud, said Cardona, a career agent with 23 years at the bureau who once worked as a New York state accountant. He declined to say how many other agents he has reassigned from anti-terror work to financial-crimes.