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Pastimes : THE SLIGHTLY MODERATED BOXING RING
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To: Original Mad Dog who wrote (17497)7/15/2002 10:33:05 AM
From: Dayuhan  Read Replies (2) of 21057
 
Bush sold stock as an insider to buy a baseball team, and reported it late, but the SEC decided after a review (how do they know it was "perfunctory"?) not to pursue the matter. (This is the review we debated last week whether it constituted "exoneration").

Let's not forget to mention that the timing of the sale, relative to impending disclosures about the financial state of the company, was just a bit too fortuitous to write off as coincidence. Unless, of course, you're the helmsman of the good ship Denial.

The fact that the SEC declined to pursue doesn't really mean much. We all know that people get away with this stuff all the time. If the information is communicated in private conversation, and the person who communicated it does not step forth and announce that fact, it is virtually impossible to prove that any impropriety took place. That doesn't mean it didn't happen.
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