Mark Cuban charges political vendetta in waning days of Bush administration

[DeepModem Mom]

NYT: Mark Cuban Is Charged With Insider Trading
By MICHAEL J. de la MERCED and FLOYD NORRIS
Published: November 17, 2008

As anyone who follows the National Basketball Association knows, Mark Cuban, the Internet entrepreneur turned owner of the Dallas Mavericks basketball team, has never shied from a fight. But now the pugnacious billionaire is squaring off against his biggest adversary yet: the federal government.

On Monday, the Securities and Exchange Commission filed a civil suit charging Mr. Cuban with insider trading for selling shares of a small Internet search company in 2004, just before its share price fell.

Mr. Cuban saved himself a $750,000 loss, according to the complaint filed in United States District Court in Dallas.

Mr. Cuban swiftly fired back, accusing the regulator of “prosecutorial misconduct” and alleging that he was the victim of a political vendetta by the agency in the waning days of the Bush administration.

“I am disappointed that the commission chose to bring this case based upon its enforcement staff’s win-at-any-cost ambitions,” Mr. Cuban said. “The staff’s process was result-oriented, facts be damned.”...

http://www.nytimes.com/2008/11/18/business/18insider.html?ref=todayspaper

[Gman]

1. Just like the referees are out to get him

Cuban actually budgets for his NBA fines. He thinks it's a cost of doing business. Maybe he should start doing the same thing with the SEC.

[blm]

2. Considering Cuban's sin was giving Rather a platform when all other media stood with Bush. Cuban

would be crazy to ignore the connection. Anyone who cares about a free press in this country SHOULD NOT ignore the connection.

[MilesColtrane]

3. Read the SEC complaint.

If the witnesses and emails are to be believed he's hosed, and it's not for giving Dan Rather a TV show.

[McCamy Taylor]

4. Reacting to bad news is not a crime in itself. They got Stewart for lying.

Cuban is being targeted because they do not dare go after Dan Rather.