ol' girl is going to jail.

Martha Stewart found guilty
Associated Press

March 5, 2004 STEW06
NEW YORK -- Martha Stewart was convicted Friday of obstructing justice and lying to the government about a superbly timed stock sale, a devastating verdict that probably means prison for the woman who epitomizes meticulous homemaking and gracious living.

Stewart was found guilty of conspiracy, making false statements and obstruction of justice. The charges carry up to 20 years in prison, but she will most certainly get much less than that under federal sentencing guidelines.

Her ex-stockbroker, Peter Bacanovic, 41, was convicted on all but one count against him, making a false statement.

The jury of eight women and four men reached the verdicts on the third day of deliberations in the case.

holy flaming hohners, she's goin to the slammer!!!!! martha gone dooooown!!!!

Who-mothafuckin-hoo!!!

obviously, i wasn't in the court room to hear all of the evidence. i assume the prosecution did a good job of presenting the necessary facts in order to receive a guilty verdict. the outcome bothers me nonetheless. not because she is famous or successful or anything like that but because this is something that everyone knows goes on. yes, it is illegal and yes, she probably did break the law. how many of us (or the prosecutors, for that matter) would not have done what she did if in the same situation? how many of us would knowingly lose money if it could have been avoided? i guess the bottom line is that she broke the law and needs to know she is not above that.

my uncle lost a bunch of money in the market (like, enough to put my cousin through all 4 years of her college education at Boston University) a few years ago. while i was visiting family over the xmas break, we got into a discussion about martha's case. he really wanted her to be prosecuted and found guilty for 'cheating the system'. i asked him if he was in the same position as her BEFORE he lost his money would he have done the same thing. he couldn't give me a straight answer. or, rather, he couldn't give me an HONEST answer. he got really angry and gave me some smart ass reply. with the general attitude being that of my uncle's, i have to wonder if martha is being used as a punching bag for those who have lost a lot of money in the market crash. this doesn't change what she has or hasn't done but i think it could change the way some of us see the situation.

TheOrgerFormerlyKnownAs said:

dance with me, ivy! omg...i wonder if she'll make designer shivs in prison n'stuff...this is just so surreal y'know.

martha stewart...in a jail cell...

Greedy bitch belongs there!!!

Handclapsfingasnapz said:

you know she'll be able to things with orange and brick that noody has ever seen

Hokey smokes Bullwinkle... for a hot Minute there, i thought she was gonna walk...maaaaan dont fuck with the SEC lol

http://www.savemartha.com/

theVelvetRoper said:

next on 'martha stewart living', how to make your own 'save martha!' t-shirts...

theVelvetRoper said:

Handclapsfingasnapz said:

I thought it was a joke when I first saw the site, but they're damn serious!

SassierBritches said:

The problem is getting out on inside knowledge that other shareholders don't know about. Think about it this way - someone bought the shares she sold - and had they known what she knew, they wouldn't have bought them - and as a result, they lost all of the money she avoided losing and I'm sure she could have afforded the loss she avoided a heck of a lot more than she did. What compounded the situation was her boyfriend lying to the public about what happened with the FDA denial while both of them were selling. Both of them went to jail because of it, as they should. It wasn't just imclone stock either - virtually all biotechs took a major hit because of what went on at Imclone.

alandail said:

oh yeah, i am completely aware of what her actions entail. and like i said, she needs to know she's not immune to the law. my concern was more with the way the public has looked at her. its as if they wouldn't do the exact same thing if the opportunity presented itself. unfortunately, the market is a dog eat dog world where screwing someone may be necessary to get ahead or save your ass. i don't agree with it, but nonetheless, that's how it is. martha was plain and simply being a business woman. unfortunately for her, she did it at a time when the government is really cracking down on white collar crimes in order to promote a more positive opinion of the corporate world. we all know that these people are all slimey. martha is just one in the bunch. yes, she should go to jail for her actions. i just think people need to recognize that she only did what everyone in that industry does and, most likely, what we would probably all do if faced with the same dilemma.

The thing that bothers me about this case is that it makes it look like these regulators are actually doing something. Martha should have been the last person on the list of corporate CEOs, stockbrokers and other corporate criminals who have so far got off scott free in the corporate scandals. They shouldn't have bothered with her until they nabbed the more important crooks first.

The kicker to all this is that the FDA did just approve the drug. If only they waited.....

SupaFunkyOrgangrinderSexy said:

BIG co-sign. She's done some bitchy things, but I'm not excited to see her go to jail, and I think it's sad that people are cheering it. Definitely victim of a Bitch Hunt.

SassierBritches said:

Sassy, I wouldn't have done it. I have four broker licenses and securities law is very clear about what she did. Everytime I think about Enron, Worldcom and other companies where the consumer loses their life savings and the head honchos get the golden parachute, it makes me sick. I honestly would not have done what she did. Since I know the market, I wouldn't have sold my stock at all. Had she held on to it, like investors are supposed to, she would have made a ton of money. She was either greedy, cheap or stupid.

Handclapsfingasnapz said:

I would love to see whose prison bitch she is going to be. Fuck her.

theVelvetRoper said:

TheRealFiness said:

I was at a brokerage firm for 5 years. I used to love it when the SEC and NASD laid the smackdown. They ain't no punk bitches.

madartista said:

and another co-sign from me! i think what she did was wrong but there are bigger criminals to go after than her.

TheOrgerFormerlyKnownAs said:

i think she was definitely a combo of all three. i'm glad to hear that there are some honest people who have been involved in the industry, like yourself. i just wish it were more common. sadly, those companies and ceo's make their money off of screwing many others. this was small fries compared to what many head honchos do.

SassierBritches said:

another co-sign.

she will end up in a so called prison. These are the ones with cabel television and no bars

couldn't had happened to a nicer person....she fucked up, she got caught...bout time that justice is gonna be served. But, she won't be going to a "normal" prison....she'll have all the luxeries of home AND garden, I'm sure.


It's a good thing!! ~Velvet Roper