I DO understand yer point, my FRiend. We usedta have a local pseudo-conservative talk radio host from 7-10 whose favorite saying seemed to be "Don't overstate yer case" and he used to cut me off when I'd call in and complain about Clinton's "treason," "raping," and "Conspiracy to Commit Murder." Since he wasn't a FReeper, he wasn't as up to speed on the latest and I came off--allegedly--as overstating my case. However, IMHO, the WSJ did not overstate McAuliffe's insider knowledge on Global Crossing...a timeline of his purchase/sale of stock and the corresponding price history of GX would be helpful, though, in either confirming my suspicions or amending them as required.
If they're gonna bust Martha Stewart's chops for a few hundred thousand dollars, they ought to do the same fer T-Mac.
FReegards...MUD
And I understand yours, Slim. GX' stock slide started slowly in late 1999, so I think the market was reflecting fears of their debt accumulation long before other problems became evident.
Martha's situation is a horse(trade) of a different color - she allegedly sold out 1 day before bad news of a very specific nature (denial of FDA approval) was announced.
Acting on prior knowledge of a specific negative earnings release would qualify as insider trading in GX' case, but there has to be a close proximity time-wise. It's not enough to suggest that T-Mac 'knew' that GX' earning would eventually decline.
I sold my GX in late Fall, 1999, cuz I thought it was overpriced, had peaked, and I'd made enough.