Saturday, October 19, 2013

Catching Mark Cuban...Next Time...

SOMEONE CALLED MARK CUBAN a hero, right after he was found not guilty of insider trading in federal court. You know Cuban, the billionaire owner of the Dallas Mavericks basketball team. A few years ago he unloaded a bunch of stock the very day before the same stock went in the tank, and saved a bundle. Pure luck? Good guesswork? It tunrs out that Cuban had a conversation with the CEO of the company a very short time before he made the big sale, and that's why he was accused of insider trading, of getting top scret inside information about the impending stock price from the CEO himself, while nobody else had access to this information. You and I would never be able to get help like that, we don't have access to the CEO. I was first in line to buy facebook, but paid four dollars above the IPO, because the big boys, the wealthy people, are always moved ahead in the line, served first by the system. The system, in a nutshell, favors the wealthy. But evidently the federal government lawyers couldn't probve their case well enough in front of the jury; either that, or Cuban had the best lawyers money can buy, and they fought the government to a tie, which goes to the defendant. Cubanis a hero, some say, because he is an honest hard working business person who was dragged through court and tormented by the federal government, costing him a great deal of money, time, and energy, and the fact that he was found not guilty is proof of this. Almost makes you wanna cry. Government does this all the time; drag poor harmless honest business people through court, trying to ruin them, and take their money. That's how vicious the American federal government is. These poor, unfortunate billionaires, being unfairly hounded like that. Okay, well, whatever. Maybe so. But is this always the way it happens? Is that the way it happened with Bernie Madoff, poor harmless honest hard working business person dragged through court and unfarily tormented by the evil big government, then thrown into prison in an act of sheer brutality? Or, in the case of Madoff, did they catch a major crook, and nail him? You make the call. How many of these billion dollar financial investor corporate crooks are there out there, running around thinking they are above the law in their pursuit of wealth? More than merely Bernie Madoff, we know that much. More than a few. How did Mark Cuban know to sell his stock when he did, if not tipped off by the CEO? An incredibly good guess? Uh huh, sure. Just because the government was too incompetent to prove its case, or Cuban's crack legal team was too sharp to get pinned down, doesn't mean the guy isn't a crook. Many criminals go free due to the limitations ot the American legal system. Remember O.J... Let us assume for the sake of fairness that Mark Cuban is not a crook, because the legal system said he isn't. Let's hope that he isn't. Because if he is, he'll probably keep breaking the law until he gets caught, and embarasses us all.

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