SEC

Mark Cuban Posts SEC E-Mail: Prosecutor Felt "Fully Informed" About Him After Seeing Some Headshots

Photo of Cuban holding a bundle of cash called "charming"

|

money shot bottom left
via blogmaverick.com

Earlier this month, a federal jury acquitted Dallas Mavericks owner Mark Cuban of charges of insider trading the Securities and Exchange Commission had been pursuing for five years. Cuban declined an offer to settle and always maintained the government's case was weak. Cuban says SEC attorneys told him it was "nothing personal" after the verdict, but he rejected the assertion that when the government goes after you it can be anything but. Cuban also criticized the SEC's practice of regulating through litigation, telling CNBC:  "It's a lawyer-driven organization. They think like prosecutors. They act like lawyers and that has to change… As long as it's lawyer driven, they'll never have confidence in the markets. They'll never have consumer confidence increase in the markets. That has to change."

Last week, he posted an e-mail exchange between the then Head of Enforcement at the SEC and two other SEC officials. The e-mail included photo attachments (pictured right), which the head of enforcement replied had made her "feel fully informed" and that the "picture with the money is particularly helpful and certainly speaks a 1,000 words (if not more)." Cuban introduced the e-mail with this comment:

Its not fun being in the government's crosshairs.  But there is comfort in knowing that the then Head of Enforcement at the SEC , Linda Thomsen (now of Davis & Polk law firm. I'm guessing her clients are proud !) went to the Nth degree to make sure she knew the smallest details of my case before moving forward !

See the blog post and the full e-mail exchange here.

NEXT: Sandra Day O'Connor Presides over Gay Wedding at Supreme Court

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

  1. Cuban declined an offer to settle and always maintained the government’s case was week.

    SQUIRRELZ

  2. Cuban declined an offer to settle and always maintained the government’s case was week.

    You lucystag’d the post.

    1. Don’t talk shit about Lucy.

      1. Thank you for saying what I’m confident we’re ALL thinking.

      2. Reason was better when Lucy never edited anything!

      3. I think he’s talking shit about Reason for getting rid of such a wonderful and noble human being while continuing to make the spelling errors she was allegedly fired for.

        For shame, Reason.

        1. That’s the one. I’m just poking fun at Reason IF failure to edit was the cause of lucystag’s dismissal.

          If not, add it to the barrel with Virginia Postrel comments.

  3. Cuban says SEC attorneys told him it was “nothing personal” after the verdict…

    Hoping no doubt he wouldn’t do what he’s doing now, publicly excoriating the a-holes and their practices.

    1. Would be nice to see someone with his resources file a couple of civil lawsuits against overreaching bureaucrats for malicious prosecution.

      -jcr

      1. Aside from occasional Anonymous attacks, federal prosecutors are pretty much immune from the consequences of their actions.

        1. Anonymous is the only reason snipers haven’t been deployed.

    2. Fist of Etiquette|10.29.13 @ 7:02PM|#
      “Cuban says SEC attorneys told him it was “nothing personal” after the verdict…”

      Right.
      They just hoped to bankrupt him and toss him in the clink; nothing personal.

    3. If any billionaire is going to become Batman or Iron Man, it’s Cuban.

  4. I’ve said before that if you create certain positions of authority, the worst people will gravitate to them. And one of the similar factors in a lot of these people seems to be sociopathy. Completely not caring if they ruin someone’s life for sexting, or going after a guy because you didn’t like a picture of him, or killing a person whose house you wrongly raided after doing nothing to make sure it was the right house, and so on. A total lack of empathy with the people you are dealing with, and not giving shit how much they might suffer. In fact, some of these people seem to get off on how much they make people suffer, making them sadistic sociopaths.

    Government, the larger and more powerful it becomes, starts operating as a sociopath magnet and collector. More and more people that are attracted to government positions are sociopaths, and as they swell the ranks, they make the environment less and less attractive for non-sociopaths, who then leave and open room for more sociopaths.

    We’re hitting a critical mass of sociopaths in positions of authority and power. And it’s just going to get uglier.

    1. A burning sense of self-righteousness probably produces the exact same result. Being a good person means following the rules and punishing the bad people who break the rules!

    2. The problem with sociopaths is that they are generally pretty clever, as they’ve spent their lives trying to hide what they are. They’re also good at manipulating useful idiots.

      1. Both things are true, but I think the real problem with sociopaths is that they’re sociopaths. Because they have no empathy towards others, you can’t appeal to their decency or common sense. Because they just don’t care. You can say “Mr/Ms Prosecutor, prosecuting my daughter for child pornography because she took a picture of herself naked and sent it to her boyfriend both makes no sense and could absolutely ruin her life!” And the sociopath will shrug and ignore your pleas, because they just don’t give a shit, especially if they think it will advance their career or something. These are the people that staffed internment camps or gave orders for mass executions in other times and places.

        1. Because ruining a kid’s life will dissuade all those other kids who never watch the news from doing the same thing. Derp.

      2. Also with no internal moral sense they derive their moral systems from external rules which makes them see anyone who violates those external rule systems is a “bad” person worthy of punishment

        1. Why in saner times, such people were simply burned to death.

  5. But there is comfort in knowing that the then Head of Enforcement at the SEC , Linda Thomsen (now of Davis & Polk law firm. I’m guessing her clients are proud !) went to the Nth degree to make sure she knew the smallest details of my case before moving forward !

    The delightful asshole! Wonderful snark from him.

    1. She knew all about him from a picture of him with a monkey? Any client who stays with that law firm after reading that comment has a group of fools for counsel.

  6. Yeah, I just continue to become a bigger and bigger fan of Cuban.

    Can we finally end the embargo against him, America, so I can travel to Texas, freely, for good cigars?

    #NormalizeRelationsWithCuban!

    1. You might have to settle for a sandwich.

      1. I would kill for a good Cuban Sandwich right now.

        Honestly the only think I miss about Louisville is a Cuban Restaurant named Havana Rumba

        1. Cuban-style burger… fried egg on it.

          Also maybe a Cuba Libre! And/Or Hemingway Daiquiris.

    2. It is pretty amazing to find someone who is a bigger asshole than Mark Cuban in any exchange involving Mark Cuban. That said, I have much respect for the man.

  7. Shades of Howard Stern’s dealings with the FCC, and the inquisitor on his “case” having a picture of Stern on a dart board in the office. Or was that the Director?

  8. Cuban just gets better and better all the time.

    I wonder if there’s a murderdrone with his name on it?

    1. I am sure he will go cut another check to TEAM BLUE, and continue to make pronouncements like paying taxes is the “most patriotic thing you can do.”

      Or, perhaps, maybe the lesson has sunk in a little?

  9. Regulators scare easily but they’ll be back, and in greater numbers.

    1. Mostly they come at night. Mostly.

  10. Wow. The comments on Cuban’s blog read like the lovable fever swamp that we call ‘H&R.’

    Never eat at a restaurant where the Chef does not eat their own cooking? Keep re-electing a government to impartially investigate American Citizens when they don’t follow their own rules.
    We keep re-electing based on team uniforms.

    That’s brilliant! Congrats on beating the Feds, Mark.

    Same bunch of geniuses that investigated Madoff and never found anything.

    Describing our government as a “mess” is not even close. Travesty suits it better.

    capitalism prevails, socialism fails ? gettem Mark

    Are the printers at the SEC really that bad? And, seriously, there are a lot better pictures of you being obnoxious in a simple search of your name on Google.

    That last one reads almost exactly like something I’d say whenever Welch posts a picture of himself.

    Welch with his fucking glasses and come hither stare.

    1. Sent with the finest fax machines you can get off the .gov contract with Staples Public Sector website or whoever has it these days.

  11. Jamie Dimon and JP Morgan should take note.

    If I were the CEO – I would take a hundred million dollars and wage a never ending, scorched earth battle with the Justice Department.

    Screw that 13 billion dollar fine.

    1. Hell, spend $3B if you’re going all in.

  12. I’m with Cuban – the SEC is way overrated. Alabama isn’t all that great and they all play shit out-of-conference opponents (except GA who lost to Clemson).

    1. Hey, dickbag. My Ole Miss Rebels kicked the shit out of soon to be Big 12 champs Texas earlier this year, in their own stadium. We’ll do worse to Boise State to open the season next year, which isn’t that impressive, but they were really good when we scheduled the game.

      That said, fuck the SEC. I hate those sons of a bitches more than anyone. http://www.youtube.com/watch?v=x5X1cElgBo4

      1. Great video – and I give credit to schools, like Ole Miss and Tennessee, that schedule challenging out-of-conference games.

  13. Dude doesnt have a clue man. Wow.

    http://www.PlanetAnon.tk

Please to post comments

Comments are closed.