Entrepreneur billionaire Mark Cuban, the owner of the Dallas Mavericks, responded forcefully to the insider trading complaint filed against him by the SEC yesterday, saying that the case is based upon official's win-at-any-cost ambitions." The feds allege that Cuban sold shares of a soon-to-be-doomed Internet search company in 2004 while the price was still high.
So what could be the potential political motivation behind Cuban's charges? Cuban financed Loose Change, a film about 9/11. A source close to Cuban just provided a New York Times reporter with an email sent to Cuban from an SEC lawyer in 2007. The email has the subject "Loose Change" and SEC Chairman Christopher Cox was also copied. It states:
Previously, I thought you were merely foolish and naive. Now, however, I see that you are also a hypocrite. I guess your belief in free speech has severe limitations. If someone else is the victim of an absurd conspiracy theory, you defend your right to participate in smearing the good name of a patriot like President Bush. But, when you are the subject of a parody of the attack you have endorsed, you suddenly issue threats. I think I will email this to Chairman Cox myself. I think he will enjoy it. I’m sure he is also a Laker fan. Since Chairman Cox may not know the background, I will explain. Mark Cuban is the owner of the Dallas Mavericks and has participated in distributing the vicious and absurd documentary, “Loose Change,” which posits that President Bush planned the demolition of the World Trade Center as a pretext for going to war against Iraq.
Do you think Cuban is suffering political payback, or is this email from the SEC lawyer (who was later punished for it) just evidence of stupidity?