DRUDGE: Martha Stewart On The Rack- Broker Assistant Spills the Beans

Dridge Report ^ | 8/5/02 | Matt Drudge

[11th Earl of Mar]

MARTHA ON THE RACK: BROKER ASSISTANT TELLS INVESTIGATORS HOW STOCK STORY WAS CONCOCTED!

An explanation for Martha Stewart's sale of nearly 4,000 ImClone shares on Dec. 27 was concocted after the fact -- prosecutors have been told, the NEW YORK TIMES is planning to report on Tuesday... Developing...

[justshe]

That's OK.......I seed you do it and wanted to hep' you out!

[1rudeboy]

Oh heck, I went to the SEC website for the language, and I still can't figure out why my link won't work.

[1rudeboy]

How old do you think T-b really is? Go ahead, I don't expect him/her to come back to this thread.

[usadave]

I just like to post on threads that use cool words like "concocted."

I agree, the word "concocted" is indeed groovy.

[miner89]

"Don't use big words when a dimunitive word will suffice."

[Semper911]

C'mon, how many of you think she will be wearing orange in the near future? I need to know if this could really happen! I have gleaned from this thread that she is likely guilty of insider trading (with or without quid pro quo) and also of lying to the Feds.

If it were me, I would already be wearing orange. But Martha freaking Stewart! Could she really go to jail? Priceless.

[agarrett]

  It's a toss up, really. For all the ribbing he's taken, Tuco-bad had a point. Stewart is a celebrity and has money - and that can often get people out of trouble. Had this all come to light a year ago, I'd have given great odds of her paying a token fine and going on her merry way.

  Now, however, we have politicians, up to and including President Bush, absolutely salivating for a high profile example, to show that they aren't afraid to stand up to corporate wrongdoers. Suddenly Stewart's celebrity status may work against her. I still wouldn't bet heavily that she'll see the inside of a prison, but it is at least a realistic possibility.

Drew Garrett

[1rudeboy]

Personally, I don't expect Martha to go to jail. Heck, I don't expect her to be charged with anything. She's got the big guns. She will agree to pay a fine "without admitting or denying guilt." End of story.

But wouldn't it be great if she had to face a jury who were less-than-satisfied with her bath towels? LOL

[1rudeboy]

Indulge me for a minute. What was Tuco-bad's point again?

[jwh_Denver]

she's cooked.

From outside the stove to in it? What temp for how long?

[friendly]

I absolutely ADORE the aroma of a roast bubbling and succulant liberal slowly turning on a spit above a blazing open fired oven.

Complementing this festive meal would be recommendations for Rubin flambe, McAulifee muffins and Torricelli torts.

[StriperSniper]

Sex doesn't count, especially at Martha's age.

Yeah, I bet her taco went bad.

;-)

[GretchenEE]

Broker Assistant Spills the Beans Clean up in Aisle 7.

Clean up in Aisle Three Spree.

[LarryLied]

Martha will be the poster girl the media uses to hide the serious crimes.

Gary Winnick pulled over $730 million out of Global Crossing when he knew it was going bust. His friends made even more from the $12 billion bankruptcy:

" . . . .stories about pals from Winnick's inner circle who made a killing on Global Crossing inconveniently continue to dribble out.

Business Week has reported that Canadian Imperial Bank of Commerce made more than $1.3 billion in profits from Global Crossing, thanks to shrewd moves by four of Winnick's former Drexel colleagues working at the bank's L.A. office. Some of those former colleagues sat on the Global Crossing board at various times.

The most shocking aspect of the huge profit made by the four men at Canadian Imperial Bank of Commerce is that they earned $200 million of the total after Global Crossing stock had plummeted to a few cents.

As it turns out, Winnick's former Drexel colleagues at the bank had taken a huge "hedge" position --essentially, they risked tens of millions of dollars to bet that the stock was going to nosedive when nobody else believed it would. When the bankers were proved right, they made a fortune.

Master of Disaster - How L.A.'s super-rich Gary Winnick is trying to wash blood from the Global Crossing implosion off his hands -- and make more money in the bargain.

[sarasmom]

I just want it proven!I want it on record!I could care less if she does prison, but that would be "a good thing" IMHO.

The pure and sweet marthastewart myth of "anyone can do it if they really care about their homelife " woman is the only dragon I need slain.

Beautifull,immaculate home and garden without maid service or grounds staff,multi-million dollar successfull businesswoman/CEO,fresh baked cookies daily,incredibly creative time consuming crafts,happy family and numerous friends entertained lavishly and frequently with a lucious home cooked dinner to end the day.No Drugs Required.

I am mildly ashamed of how avidly I am enjoying her demise as the perfect homemaker.

[Paul Atreides]

Broker Assistant Spills the Beans

Clean up in Aisle 7.

I bet Martha can tell him how to get the bean stains off his shoes.

[Fracas]

Good link, Larry! Martha is a small fish and Winnick is a whale. HOWEVER...Martha is a former broker and took a stupid risk for a relatively small amount of money.

[LarryLied]

I agree about Martha. Think she viewed it as a very rich person would about speeding. So what. There are no repercussions to me for anything I do.

Think Winnick's pals at the Canadian Imperial Bank of Commerce might be looked into for their $1 billion plus profit? Sure seems like insider trading to me.

Here is another link on Winnick. He is doing exactly what Marc Rich did with the money he stole: buying media silence and building a fan club which will defend him no matter what.

[Samwise]

I can't quite put my finger on the reason why, but there is something about Martha Stewart that makes me delight in the idea of her going to jail.

[Chemnitz]

I understand she left a message, a tip, and that tip was written down. Why didn't they pursue Hillary this much? I never liked Martha Stewart from Day One, but the standards of justice are way off.