The Mudcat Café TM
Thread #67590   Message #1132967
Posted By: harpgirl
10-Mar-04 - 09:25 AM
Thread Name: Martha Stewart found Guilty
Subject: RE: Martha Stewart found Guilty
Charley, I don't consider myself as eloquent on the subject as SRS is;however I come from a business oriented family (my father was a Merrill Lynch VP for many years), I invest and watch the market closely, and I run my own small business successfully.

Insider trading is done by the executives and members of the Boards of Directors of companies. Martha was neither in ImClone and could not then be accused of insider trading. Her broker alerted her to the family dumping their stock. Any good broker would do this for a good customer. Savy investors go in and out of the market in large chunks almost daily. That's what we want our mutual fund managers to do to make us a profit. Watching the activity on Omnimedia yesterday, I noticed two institutions trading in and out all day long in large chunks. Where did they get their information? This happens continually in the stock market each and every day.

We don't know if she truly attempted to lie and then changed her mind. She didn't even take the stand. Her lawyers did a poor job defending her; of that I'm sure. Nevertheless, changing ones mind about lying is not a crime, I don't think. I just don't see how she can be convicted of anything if she didn't insider trade to begin with.

I just think she became a convenient scapegoat for the Ashcroft crowd to take the heat off all the Bush buddies who are getting off scott-free while they loot the public, like Kenneth Lay, Dick Cheney, and all the other unindicted co-conspirators in the Bush administration.

Martha is only guilty of greed, hubris, and a bad personality, imo.