One last thing on Martha Stewart
2004 March 11
Professor Bainbridge, who has a bunch of good stuff on this case, muses: “I honestly don’t see how [Sam Waksal] could have thought the SEC would miss a little thing like a CEO selling millions of shares in his own company a few days before a major announcement about its major product, but greed and stupidity are a dangerous combination.” I dislike using the stupidity explanation for things that are hard to understand, but in this case, I don’t see an alternative.
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