Cuban Strikes Back…Again

Gotta love Cuban. He gives new meaning to the term “constructive feistiness”. Assuming that term ever had meaning. He’s using his blog to make sure that the SEC knows attacking him will not come without consequences. Today he dissects the Inspector General’s recent report on the SEC. From Cuban’s research, we know a few things about the Securities & Exchange Commission which recently sued him:

- Their employees like porn (no, seriously).

- Their employees and officials are allowed to trade stocks and bonds despite the fact that their jobs give them access to confidential material information on those stocks and bonds.

- There are insufficient mechanisms in place to detect insider trading by SEC employees based on that confidential material information.

- Despite such insufficient mechanisms, there have still been 6 SEC employees prosecuted for criminal activity in the 6 months between April and October. One employee a month out of only 3,500. That’s a lot.

The message: if you come after Cuban you better keep your own house clean. Cuban tries to convince us that, hey, it’s nothing personal: “First let me say this has nothing to do with me…” Yes it does Mark. But we still appreciate it all the same.