Sunday, November 30, 2008

Mark Cuban Switches to Offense

You were probably sleeping last night at 2:41 AM est so I don't blame you if you haven't gotten to Mark Cuban's latest blog post.

It seems he is working overtime to generally discredit the SEC at the same time that they are working furiously to prosecute him.

Cuban's Friday night reading list included the Office of Inspector General’s Report to Congress regarding the SEC, a report I didn't know existed and wouldn't know where to find without Google. In his post Cuban takes issue with two things in particular - lax trading rules for SEC employees that clearly traffic in material non-public information, and an alleged retaliatory investigation by SEC staffers.

He also takes issue with the fact that the SEC tried to slip the report out on the Friday after Thanksgiving when no one is paying attention. This whole thing has bacome an interesting case of "who's watching the watchers" and Cuban as the central figure ensures that the story will get more than enough attention in the press. This should be good.

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