Sen. Clinton downplays phone call to Martha Stewart

AP | 1/27/03

[kattracks]

WASHINGTON (AP) -- Sen. Hillary Rodham Clinton was only making a phone call to a friend when she spoke to embattled domesticity diva Martha Stewart, the senator's spokeswoman said Monday.

Stewart, in an interview with the New Yorker magazine, said she has received support from Clinton as the home decorating queen tries to fend off a federal probe into whether she traded on insider information when she sold shares in ImClone System Inc.

In the article, Stewart says she has received encouragement from Clinton, who has faced down a number of federal investigations.

"She was one of the first poeple to call me ... and very nicely say, 'You know, you just have to hang in there. It's the process,"' Stewart told the magazine.

Clinton spokeswoman Karen Dunn would not characterize the phone conversation, or say whether the senator was supportive of Stewart.

Clinton "made a phone call to a friend and has not commented on the ongoing investigation," said Dunn, who said the conversation was brief.

"I wouldn't say either way about the contents of the call," Dunn said.

[South40]

EXACTLY!!

[Hildy]

Why is Martha scum? Give me two examples.

[jriemer]

Miss Marple,

We might channeling the same thoughts on this one...

see #39

jriemer

[twigs]

Consider yourself fortunate, DG. Look what Vince lost.

[Recovering_Democrat]

Senator Clinton needs to answer questions about this phone call. Say, why not a NY Post Headline:
CLINTON
KNEW

[Just mythoughts]

Unless there is a mole in DOJ, what help could Hillary have to offer? HRC called Martha so why is Martha letting the world know this? HRC doesn't like to be talked about unless she is doing the talking or authorized it. HRC did not tell she called and won't explain the call.

So how does Martha telling about the phone call from HRC help Martha?

Maybe somebody should check out Martha's phone records now.

[lorrainer]

Maybe we're looking at this all wrong. Maybe Hil-liar was letting her know that if she doesn't keep quiet, Martha would be sleeping with the Pineapple-Mango Salsa over Grilled Halibuts.

[kattracks]

So how does Martha telling about the phone call from HRC help Martha?

A heads up to those investigating Martha that hillary! (and her FBI files) is a close friend?

[MozartLover]

"And people want to know why I don't get the ironing done"

ROFL!!

I know why I don't get it done.

Because I HATE it, that's why!!!

[anymouse]

Maybe Martha didn't bite on the shakedown. Maybe she knew the only way to back off PIAPS was to go public with the call. Kind of a shot over the bow of PIAPS to not try it again.

[GovernmentShrinker]

And for the record, if I got a phone call in the middle of the night from a friend who worked at a company and told me to sell my stock in the morning, I would.

And you'd belong in prison for it. I guess you don't care how many innocent and honest investors lose money because you grabbed yours illegally. Nice /s

[Freedom2specul8]

"you should talk to my brother Hugh"

heh heh

[LiberationIT]

Sounds like rich, fat cats protecting each other. We don't stand a chance against an old girls network like this.

[Tamzee]

Two reasons why Martha is scum.... okay. Insider trading destroys the foundation of the stock market for individual investors. If too much insider trading goes on, individual investors will always lose and lose big - that's why there are such significant regulations against it. As a past stockbroker, Martha KNOWS the rules and KNOWS why better than most folks. As a board member of the NYSE, she is in a significant position of trust as one of those few folks who are supposed to protect the integrity and future of the stock market and make sure the rules work.

What she did was like a doctor using his prescription pad to write out narcotic prescriptions and sell them to kids. As a part-time health teacher.... after class.....

Tamsey

[South40]

One will suffice.

Insider trading is ILLEGAL.

She’s probably on her way to being convicted of that ILLEGAL activity.

But don’t tell me…it was a victimless crime…..right? Or so your cavalier attitude about it would suggest.

Those who lost their life’s savings at ENRON, those who lost money invested in her company, and those who follow, adhere to, and respect the laws of our nation would tend to disagree.

[Hildy]

You tell me, honestly....If your BEST FRIEND told you to sell your stock in the morning, are you seriously telling me that you would just watch the stock price keep going down and not do anything? At what point would it be OK to sell that stock? These are serious questions I'm asking you.

[Hildy]

I'm just asking when is it ok to sell? If this is such a heinous crime than NOBODY who works for a company nor their friends or family should be allowed to own stock in that company. Nobdody. But that really wouldn't work in our kind of economy would it? So for now we do our best. I'm telling you it goes on everyday. She got caught. I'm not saying she shouldn't be punished. (jail time is absurd), but she is not a monster for doing it because ANYBODY in her position would have done it.

[GovernmentShrinker]

It is NEVER acceptable to buy or sell publicly traded securities based on insider information. It is both unethical and a serious federal crime. It is okay to sell the stock AFTER the information you got from your insider friend has been made public -- not a moment before. For the unethical and non-law-abiding among us (which apparently includes yourself) the exchanges and regulatory authorities employ sophisticated computerized trade analysis systems to catch you. Don't try it -- you'd be in WAY over your head, and you'll end up paying a lot more than you would have lost by sitting on the stock as it went down.

[jriemer]

So how does Martha telling about the phone call from HRC help Martha?

For starters, the DOJ and SEC may be less inclined to vigorously investigate Martha if they know a sitting Senator maybe involved. This is even more the case if that the senator in question was a former first lady. These facts may "defang" the investigation.

Everyone else in the Imclone scandal has copped a plea. Martha may be "shopping" for a deal and this is her way of providing information. She's never been subtle.

Martha's statement makes a "public record" that Martha and HRC "talked" about "something" in the event Martha winds up on Alamo-Girl's list sometime in the future. [/tin foil]

jriemer

[GovernmentShrinker]

Anyone may own any publicly traded security, regardless of their relationship to the issuer's executives. The trades of certain close family members are subject to various special reporting and surveillance requirements.

You need to understand that by giving you the non-public information in the first place, your "friend" would have committed a serious crime. Your best hope of avoiding prison time and large fines would be to testify against said "friend" to ensure that s/he gets sent to the slammer. If you have any "friends" who would put you in this position, dump them fast. Often enough they'll turn on you, since they can't be trusted about anything -- media reports say that Sam Waksal is trying to cut himself a deal with prosecutors by blabbing about what he told Martha and when.