Monday, November 17, 2008

Mark Cuban Charged with Insider Trading

Mark Cuban, Pittsburgh native from Mt. Lebanon, entrepreneur millionaire, and owner of the Dallas Mavericks NBA basketball team has been charged by the Securities and Exchange Commission with insider trading. Pittsburgh sports fans will remember that Mark Cuban was supposedly interested in buying the Pittsburgh Penguins and the Pittsburgh Pirates. You will also remember that Cuban was a lot of talk and no action. Everyone has a blog these days, and Mark Cuban responds to the allegations on his blog.

1 comment:

Bonzer Wolf said...

Mr. Cuban called the government’s allegations false and indicated a belief that SEC staffers were out to get him. He will will vigorously fight to prove his innocence. IMHO this is just another example of the feds unfairly making an example of a high-profile citizen who has dared to publicly criticize the government. $750,000 is chump change to Mark Cuban and he has never made a secret of his sale of stock when the company decided to go “private” and change direction. Mr. Cuban is a long time critic of both the federal government and the SEC.

I hope that this federal targeting will inspire Mr. Cuban to support the Libertarian Party with some of his billions. Government at all levels is too large, too expensive, woefully inefficient, arrogant, intrusive, and downright dangerous. Democratic and Republican politicians have created the status quo and do not intend to change it.