Martha Stewart found guilty on all four counts

Ghost · 03-09-2004, 12:47 PM

And Cowboys fans ...

RedskinRat · 03-09-2004, 12:53 PM

Hey Ghost, we'd use Cowboys fans fat asses to break the glass.

Daseal · 03-09-2004, 07:58 PM

From my understanding I don't see how Martha did ALL THAT MUCH wrong. She saw her friends who owned the company selling, her agent advised her to sell, and she did HOW AMAZING! But she tried to cover it up, Im guessing that was the biggest problem?

Ghost · 03-09-2004, 10:34 PM

It's called insider trading and it's illegal. If you sell stock based on information not available to the general public, you have broken the law. The law is supposed to protect your average everyday stockholder (i.e., you and me) from clowns at the top who would rip us off or let us take the fall. Martha got a tip from someone connected to the CEO of ImClone so she sold her stock before it plummeted. Average Americans lost lots of money but I guess Martha doesn't think the same rules should apply to her. Most of us don't have connections with CEOs but powerful people like Martha do, so we have to make sure they don't cheat. Interestingly enough, for some reason the judge threw out the insider trading charges against Martha. She actually was convicted for trying to cover the whole thing up ... charges like conspiracy, making false statements and obstruction of justice. Yes there are worse corporate criminals than Martha but she deserves what she's getting. Plus she'll probably go to some cushy country club jail ... a far cry from where you or I would be sent if we were convicted of a felony.

Daseal · 03-10-2004, 10:05 PM

SO Martha should be locked up for following the advise of a well informed friend. What should she have done instead? Just let her money plummet away. She saw her friends selling and her broker told her to, that's all the convincing I'd need.

Ghost · 03-11-2004, 04:19 AM

If following the "advice of a well-informed friend" means you're acting on insider information, yes you have to let that money plummet away and sell it the next day at a loss, just like all the other shmucks in the world, the ones who aren't rich and powerful enough to have well-informed friends in all the right places.

03-11-2004, 04:19 AM	#6
Ghost Special Teams Join Date: Feb 2004 Posts: 298	If following the "advice of a well-informed friend" means you're acting on insider information, yes you have to let that money plummet away and sell it the next day at a loss, just like all the other shmucks in the world, the ones who aren't rich and powerful enough to have well-informed friends in all the right places. Last edited by Ghost; 03-11-2004 at 04:21 AM.

03-09-2004, 12:47 PM	#1
Ghost Special Teams Join Date: Feb 2004 Posts: 298	And Cowboys fans ...

03-09-2004, 12:53 PM	#2
RedskinRat Franchise Player Join Date: Feb 2004 Location: I'm in LA, trick! Posts: 8,700	Hey Ghost, we'd use Cowboys fans fat asses to break the glass.

03-09-2004, 07:58 PM	#3
Daseal Puppy Kicker Join Date: Feb 2004 Location: Arlington, Virginia Age: 42 Posts: 8,341	From my understanding I don't see how Martha did ALL THAT MUCH wrong. She saw her friends who owned the company selling, her agent advised her to sell, and she did HOW AMAZING! But she tried to cover it up, Im guessing that was the biggest problem?

03-09-2004, 10:34 PM	#4
Ghost Special Teams Join Date: Feb 2004 Posts: 298	It's called insider trading and it's illegal. If you sell stock based on information not available to the general public, you have broken the law. The law is supposed to protect your average everyday stockholder (i.e., you and me) from clowns at the top who would rip us off or let us take the fall. Martha got a tip from someone connected to the CEO of ImClone so she sold her stock before it plummeted. Average Americans lost lots of money but I guess Martha doesn't think the same rules should apply to her. Most of us don't have connections with CEOs but powerful people like Martha do, so we have to make sure they don't cheat. Interestingly enough, for some reason the judge threw out the insider trading charges against Martha. She actually was convicted for trying to cover the whole thing up ... charges like conspiracy, making false statements and obstruction of justice. Yes there are worse corporate criminals than Martha but she deserves what she's getting. Plus she'll probably go to some cushy country club jail ... a far cry from where you or I would be sent if we were convicted of a felony.

03-10-2004, 10:05 PM	#5
Daseal Puppy Kicker Join Date: Feb 2004 Location: Arlington, Virginia Age: 42 Posts: 8,341	SO Martha should be locked up for following the advise of a well informed friend. What should she have done instead? Just let her money plummet away. She saw her friends selling and her broker told her to, that's all the convincing I'd need.

Martha Stewart found guilty on all four counts

Parking Lot