RE: Martha Stewart and her Merrill Lynch Broker

From: gts (gts_2000@yahoo.com)
Date: Thu Jun 05 2003 - 16:12:31 MDT

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    Lee Daniel Crocker wrote:

    > Actually, she's charged /only/ with the cover up, not the
    > underlying insider trading; which is itself something of a
    > dubious proposition.

    The news as I heard it is that she was indicted for five counts of
    securities fraud in addition to conspiracy and making false statements in
    the investigation.

    She claims to have had a stop-loss order in with her broker to sell if
    ImClone fell below 60, but the books show that her broker entered the stop
    loss in a different ink, suggesting that the books were doctored after the
    fact.

    I don't think Stewart or her broker are without guilt here. However I do not
    approve of the laws that made it a crime for her to protect her interests
    when she happened to learn that
    her investment in ImClone was likely to go sour. In that respect she was
    acting naturally and rationally.

    -gts

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