Martha Stewart Can Shove it Up Her Ass.
Although I refrain from commentary on meaningless pop culture icons, I will address the Martha Stewart situation. This rich bitch and former seat on the New York Stock Exchange used her connections to gain insider information regarding FDA rejection of an Imclone cancer drug. She used this information to sell substantial stock interest in the company the day before the price plummeted.
Everyone defends this action, apparently "everyone does it". She never was tried for it, she never served a day. She did some menial jail time for obstructing justice. BFD.
The bottom line is, when Martha sold that night, she pocketed just under $300,000 that would have been otherwise lost. So what? Who cares?
The way the market works, if someone makes $300,000 it has to come from somewhere. Her profits were safely transferred to her thick and appropriately matching wallet while the retirement accounts of the retired on fixed income tanked. The smiling face of K-Mart squeezed out a major dookie into Joe Six Pack's lunch bucket, reaching into his pocket and putting a few bucks into hers.
So what was her penalty... five months of easy time. Shit, that's $60,000 a month. I'll take that anytime!
I'll never understand how the Limbaughs of the world can scream bloody murder about a destitute crackhead pocketing a Nelly CD in New Orleans, but then look the other way at white collar criminals that pocket substantial gains with minimal repercussion.
Fight the real enemy.


1 Comments:
I agree with you to a point. What she did was wrong... the selling of the stock and the lying about it. What does that (lying) say about her integrity?
However, I do believe she was made an example of because she is a woman who employs behaviorisms which are closely associated with men: aggressive, intelligent, and demanding. She bucked the system and the system fucked her.
I'm not condoning what she did, however, there are plenty of other folks who did precisly what she did, and with the exception of Miliken, the "junk bond king" of the '80s, there are the CEOS of Tyco, Worldcom, and Enron... who have yet to pay their due.
The rich keep getting richer, and it's usually at the expense of the hardworking John Q. Public who is trying to get ahead. Case in point: the current fiasco related to the oil industry.
Post a Comment
<< Home