June 05, 2003
Martha Stewart Fiasco
I don't really understand why people are being so hard on Martha Stewart. While I agree she should be reprimanded and punished if it turns out she is guilty of insider trading, I think that the punishment should fit the crime. I mean, we're talking about only $45,000 worth of stock here. It's not like she was the CEO of Enron or Global Crossing, bilking legitimate investors out of millions of dollars worth of funds. In fact, if the insider trading in question was stock in MSLO then I'd care more.
Martha is the unfortunate individual who is going to take the fall for all the illegal backroom deals and insider deals that have been happening for decades. The reason for this is because she is a name brand public figure who got caught; not because she did the most harm, but because she's being maneuvered into the most unwanted position on Wall Street: the patsy.
I say, give the woman a break. Take her to court, fine her, punish her, and then let her get on with her life (and likely her retirement). All the talk of million-dollar fines and 30 years in jail is ridiculous. The punishment should fit the crime. I'm sure there are bigger fish to fry on Wall Street who have done (and are doing) more harm than Martha ever did.
Posted by Cameron Barrett at June 5, 2003 03:05 AMThe indictment is fitting the crime (remains to be seen if the punishment will). She's being accused not of insider trading, but conspiracy, obstruction of justice and securities fraud. Basically, she screwed up after she screwed up. The feds have evidence that she and her broker tried to tamper with records and lied about their actions. If she had only just said "sorry. fine me." all would be well. Poor proud Martha.
Posted by: girlhacker at June 5, 2003 06:00 AM
Only $45,000 worth of stock? If a black kid stole Martha Stewart's $45,000 car and got caught, she'd see to it that he rotted in prison and he'd be none the better to defend himself.
You seem to imply that small fish who rip off Wall Street shouldn't be bothered. I say bother ALL OF THEM and sentence them to criminal time in prison if they committed fraud or larceny. Same as the black kid in Newark.
Posted by: Edgar Bumpers at June 5, 2003 02:44 PM
If they go after any Enron or Worldcom execs with equal gusto, I won't complain much about Martha getting slapped with a stiff fine. I'd agree with your statement that this is not balanced justice.
But people love to hate Martha. She's one of those personalities that people either love her or hate her. It's a wonderful distraction to have analyze Martha's choice of an off-white umbrella instead of hearing people discussing the missing cache of Iraqi WMDs.
Posted by: Kathy at June 5, 2003 03:14 PM
Lessee, incendiary political post: 0 comments; prostitution tips: 0 comments; interesting weblog tricks: 0 comments; awesome international trip planning: 0 comments. But Martha Stewart? Boom, everyone's got an opinion. Just what is it about Martha?
Posted by: Andrew at June 6, 2003 07:07 AM
great post Cam! it's nice to see some pop culture mixed in with tech-y stuff every now and then. i agree that Martha is just a patsy and she's your typical "let's make an example out of her" case. while $45,000 is nothing to sneeze at, i wonder how much $$$ G Dubs and his boys got away with during the whole Enron snafu.
Posted by: Mark at June 6, 2003 12:13 PM
HEY I PERSONALLY DON'T LIKE MARTHA. BUT IT'S REALLY SAD THAT OUR LAWS ARE EASIER ON HIJACKERS, MURDERERS, DRUG DEALERS THAT SUPPLY AND KILL OUR KIDS AND RUIN LIVES AND ENTIRE NEIGHBORHOODS,THAT HEADS OF STATE THAT HAVE YOUNG GIRLS DISAPPEAR,AFTER HE SCREWED HER AND USED HER AND THEN TURNS UP DEAD AND THEN HE'S STILL ALLOWED TO BE POLITCALLY ANYTHING,PRESIDENTS THAT LIE UNDER OATH. WHAT THEY ARE DOING TO MARTHA IS A SHAME. THEY HAVE ALREADY HAD HER STEP DOWN AS CEO AND GOD KNOWS SHE HAS BEEN TORTURED THROUGH THE PROCESS(WHICH SHE RIGHTFULLY DESERVES) BUT LET THE PUNISHMENT FIT THE CRIME, WE DON'T HAVE TO LIKE HER, BUT NOBODY HAS THE RIGHT TO DESTROY HER FOR A BAD MISTAKE, LYING TO COVER HER STUPIDITY, BUT CUT IT LOOSE ALREADY, THEY SCREWED WITH HER CAREER, HER REPUTATION TO ALL THE WOMEN THAT IDOLIZED HER (HOWEVER I DON'T KNOW MANY)SHE STEPPED DOWN, LET HER PAY WHATEVER FINES AND PENALTIES, 5 YRS. PROBATION AND SOME HEAVY DUTY COMMUNITY SERVICE. AFTER ALL, GARY CONDIT, PRES. BILL, ALL THE DRUG DEALERS, EVEN THE TERRORISTS ARE STILL WALKING FREE.
Posted by: TESS at June 9, 2003 03:40 AM
Tess:
*Please* relax with the caps next time, okay?
Posted by: My Eyes Hurt at June 9, 2003 05:37 PM
If you are tired of the lies on MarthaTalks.com - Visit the parody of it @ MarthaStewartTalks.com
Posted by: Jane at June 11, 2003 10:29 AM
How many Martha Stewarts' does it take to screw in a light bulb?
None! You can't get at the lights; they're all bolted to the ceilings in Cell Block C!
Posted by: robin at June 13, 2003 09:51 AM
Cam, if she was a republican I bet you'd be the first calling for the guillotine.
Posted by: Scott at June 17, 2003 02:11 PM
HEY YOU GUYS NEED TO LEAVE MARTHA STEWART ALONE
NOBODY PERFECT. I AM A 34 YEAR OLD BLACK WOMAN
AND IF A BLACK KID STEELS MY CAR THEY NEED TO
GO TO JAIL ALL I HAVE TO SAY MARTHA GET YOUR
HUSTLE ON GIRL QUIT JUDGING HER AND JUDGE YOURS SELVES I WILL STILL BUY YOUR PRODUCTS GIRL.
AND IF ANYONE WANT'S TO EMAIL WITH YOUR COMMENTS
EMAIL ADDRESS IS YOLANDAG@CALMARKETING.COM
Posted by: YOLANDA GEE at June 17, 2003 03:23 PM
Wow Scott, that's a pretty big leap you made there from alleged insider trading to right-wing criticism. Please re-read my post. I think that if Martha is found guilty then she should be punished, but I strongly feel that the punishment should fit the crime and that she not be made an example of simply because she's a brand name.
I wonder what the punishment should be for fucking up the United States in less than 3 years? The guillotine - ah, a French weapon of mass destruction - how perfect for the criminals we currently have running this country.
Posted by: Cam at June 19, 2003 03:35 AM
i FEEL BAFLY FOR mA;RTHA...IF SOMEONE TOLD ME I WAS GOING TO LOOSE MILLIONS OF CASH, DO YOU THINK I WOULD SIT ON IT OR SAY SELL...SHE DID THE ONLY HUMANLY;THING SHE COULD..SHE WANTED TO SAVE HER MONEY..WHAT IS WRONG WITH THAT...IF YOU THINK ANYONE ELSE WOULD/VE DONE DIFFERENT, LET ME KNOW...I DON'T THINK SO... CHIN U[P MARTHA...SHE HAS GIVEN ALL OF US TONS OF ENJOYMENT IN HER FIELD...SHE IS A GENIOUS AND WE HAVE LEARNED SO MUCH FROM THIS WONDERFULY SMART WOMAN...SHIRLEY WALL MARSHFIELD, MA.
Posted by: SHIRLEY at June 20, 2003 08:07 PM
Why should Martha be treated any different just because she is well known. If she did the crime, then she should also face the consequences and receive her prison time, fines, etc. It is called a "white collar" crime and it will be guided by the Federal guidelines. It's unfair when someone with power or money is allowed to beat the system - while the everyday person would have to answer for the same thing. I am a female - I had to go to a Federal female prison camp for something I didn't do but was unable prove it because my bank account was used by a bank employee and I couldn't prove that I didn't know he had used it to funnel money thru. The Federal government said I should have known - it was my bank account (something about ignorance or lack of knowledge of the law was not sufficient reason to find me innocent). You would be surprised to find judges, lawyers, political officials, even doctors in a Federal system. Many times the doctors work out their time by administering medical care to inmates (the doctor doesn't remain in custody at the prison - he is free) It seems that when you have power and money you can beat the system. When have you heard of a regular "john doe" winning. Nope look at the headlines.
Posted by: Kay at July 30, 2003 09:20 AM
Open comment to Martha Stewart: Anyone who has lived has encountered difficultyI wish you continued courage in meeting yours. A dear friend spoke to me when I encounted a desperate ill-health. He said do not believe in despair. Despair is a lie. It is a blow when one see's friends turn away and life take a turn that would seem so unexpected and terrible but this is not a paridise this is a pilgramage. I hope I will see your beautifully skilled hands making small but joyous wonders to enjoy for many years to come. Be of courage.
Posted by: Marjorie at September 10, 2003 07:16 PM
