Talk about penny wise but dollar foolish!!!!!The SEC has charged Dallas Mavericks owner Mark Cuban with insider trading. Apparently, Cuban withdrew his $750,000 investment after he became aware they were obtaining other private funding.
Now, I don't really care too much if/how Mr. Cuban sold that stock. However, I find it very peculiar that this is the case that the Feds seem to have to prosecute. After going after Martha Stewart for avoiding a loss of less than $50,000, Mark Cuban's $750k looks to be gigantic.
Meanwhile, Exxon Mobile has posted world-record quarterly profits once again. Over the last 6 years, the oil industry has consolidated more wealth than any other in American financial history. Regardless the cold, hard figures of supply and demand, they've strong-armed and "speculated" themselves to their profits, while leaving the rest of our economy in shambles.
They need to be ashamed of themselves. To blindly hurdle billions while targeting thousands speaks to their credibility.
They need to be ashamed of themselves. To blindly hurdle billions while targeting thousands speaks to their credibility.
Nothing there to see, I guess.
