Posted on 06/24/2002 4:10:20 AM PDT by Liz
Edited on 05/26/2004 5:06:58 PM PDT by Jim Robinson. [history]
What else is there to say about the haymaker that Merrill Lynch & Co. threw to Martha Stewart's key backup witness in the insider trading scandal of ImClone Systems Inc.?
A month ago, the waters of that scandal were barely tickling Martha's toes. Now they're lapping at her throat. We'll take a look in a minute at what this might mean for Martha financially, as well as for investors in her company, Martha Stewart Living Omnimedia Inc.
(Excerpt) Read more at nypost.com ...
How truly sad for everyone????? Really???
Martha will skate, the government and Martha will find some way to wipe the egg off her face and send her back out into the business world of make believe.
There are two differences between white and blue collar crime. The blue collar criminal walks into the bank with a gun, demanding money, with this he is admitting he is a thief. Blue gets caught and is thrown into jail for ten years with no "sadness" on anyones part.
Now the white collar criminal steals much more than blue ever did and rarely is caught and when he does, at most a slap on the wrist. Martha will skate and blue is still in jail.
Her fans have long known, and do not mind, that Martha Stewart is a lot tougher than she looks. But in the long run, this latest refraction of her image could prove more damaging to her reputation than complaints that she is an über-perfectionist who turns chilly and imperious once the kitchen door closes. The Martha Stewart media and marketing empire is intimately woven around her persona. Greed or the misuse of privileged information, if proven, was never part of the package.
Her troubles come as investors, burned by the dot-coms, the Enrons and other flame-out stocks, are seeking trustworthiness at the top. Ms. Stewart's company had maintained such a pristine reputation that earlier this month, she became a director of the New York Stock Exchange.
Poor Martha ... tying this up in a neat little bow won't be easy. Her reputation is ruined.
I hope not. I think the empire will collapse. But then again, I thought the public would turn Clinton out of office when the blue dress appeared.
I admit to having become rather jaded when it comes to white collar "mistakes or oversights"...
The law has always been written equal for all, however in administration of said law, some are more equal than others. Usually the invisable line is between the "haves" and the "have nots". Always been that way, will never change. By the way, I think Martha is on the "have" side of the line.
Wall St is rife with rumors that there really is a "smoking gun" in the Stewart insider case.
There has to be a sell verification order, no? If for no other reason than ML's CYA'ing it.
Justice is blind, blind to the wrongdoing of certain privileged, protected classes......like in a banana republic.
We are further burdened with the political correctness atrocity.
Instructive wasn't it how debased our culture had become that some segments of the "public" actually countenanced the Clintons' crimes.
It was a wake up call for me.
Hmmmmm. Let me think about that. .....LOL.....
That will probably be the smoking gun. She says she gave him a verbal stop-limit order, which is ridiculous. Even IF the broker had a full discretionary account (which is the only possible way he could accept such an order), he'd be STUPID to accept a verbal order of the sort Martha described.
The broker can't sit glued to the screen day after day watching a stock to see if it drops to a particular price.
I told my daughter last week the broker was going to be in hot water over this - it must be really bad for Merrill to suspend him and the assistant. Chances are, his days as "broker to the beautiful people" are history.
I'm guessing the guy has done this kind of thing before, and didn't think he'd get caught this time either.
.....Dunno about Crow cooking but I betcha she's got a recipe for "Stew Stock." .......LOL......
That would be refreshing....to have the media realize something.
The media always knows what the people want to see. Right now it's child abuse of any kind and corporate scandel. Bunch of vampires.
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