Constructive gadfly
Published on March 6, 2004 By stevendedalus In Current Events

Is it worth a $ million out of the taxpayers’ hides to prosecute Martha Stewart? Apparently her crime boiled down to attitude — she’s not likable and to some degree exhibited arrogance during pre-trial questioning in which she was trapped in her own lies. It would seem that this is not enough to convict, yet polls show that she got what she deserved.


The underlying motive for conviction by the jury, in spite of this “petty” cash conspiracy with her broker, is that she nevertheless capitalized on her privilege to inside information and profited by some $40,000. The jury came to the decision that no one in high places is exempt from guilt; for the little guy with the same offense would certainly be convicted.


If, however, this decision does not set an example for trials of big fish, such as Ken Lay of Enron, then, of course, the verdict is ludicrous, and the smear on Ms. Perfect tragic, though most would still say it is poetic justice.


Comments
on Mar 06, 2004
Perhaps stripes will be in this fall.
Terribly overzealous prosecution, much ado over nothing, and Lots of people made money over Martha's Persecution.
I personally bought 1000 shares of MSO @ 13.24 last Friday when they announced that some charges were being dropped, I dumped the stock this morning after hints of a verdict coming out later in the day ( pigs get fat, hogs get slaughtered ) sold MSO @ 15.12, after fees Martha's mess made me a quick $2500.00.
I think I'll go to K-mart and buy some new sheets, I hear there's a big closeout sale on the "Living" line................
on Mar 06, 2004
It's rough for celebs who get caught:-/

~Dan
on Mar 06, 2004
Good for you, Dyno; and I'm glad you're helping out K-mart--they sure can use the lift.
Dan, yeah, my heart goes out to them, tsk, tsk.
on Mar 06, 2004
I don't have a lot of hope about it setting an example for the male trials. No offense to men, but some things don't chance. A female in business or expressing an opinion is often thought of as arrogant and often unliked. I like your point about the tax payers money going to prosecute these people. I tried to make the taxpayer point about prosecuting CEO's and such to someone on a blog about losers. I'm not justifying any crime she has committed, I'll just be curious to watch other things unfold. Good article! And I'm glad to see ya!
on Mar 06, 2004
Martha deserved what she got mostly because, as a FORMER STOCK BROKER, she damn well knew what she was doing was WRONG, and then lied to cover it up. I am sure that the lesson learned from this for her, was that the paltry 40-50K she would have lost on the Imclone was a drop compared to the dive her own shares lost as a result. Perfect justice, in my opinion; it's a shame it didn't happen that way for those Enron bastards. By the way, she's about as likely to serve a day of time as I am to win the Lotto.
on Mar 07, 2004
It may have been worth the money it took to prosecute Marth to the ones who lost alot of bucks due to her jilting them. GCJ
on Mar 08, 2004
Right, Gem, the stockholders are always forgotten.
Sue, yes, a perfectionist can't very well argue she was unaware.
Very Wise, right, it remains to be seen if she's going to be the scapegoat for all the corruption on Wall Street.