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Thursday, January 08, 2004

NOW I GET WHY MARTHA STEWART GOTTA PAY

See, the way I figure, a whole lotta folks like DickBoy Denby got their keisters kicked during the Clinton Era economic LSD trip, when a vermillion bottom line at least shading towards chiaroscuro had no causal relationship with the valuation of an Internet/tech company's stock price, because, if you will allow me, "they had no fuckin' idea what the company did in the first place but its name had 'DOT COM' so it hadda be hot."

These weren't mad-dog day traders hanging at the local Schwab sweating out the ticker. These were mavens, media elite types who broke bread with the wealthy, the powerful, the ones who controlled all the dough. As members of this cabal, they assumed they would always be in the Big Picture. Yet they got hosed like the schmucks at Schwab.

So somebody had to pay and Martha popped up on the radar. It seems to me that whatever "insider" information she had access to pales compared to the sources Denby claims to have been tapping into during his Gekko phase. This guy's yakking it up with folks that weren't just "inside," they owned the damn keys to the basement. And I'll bet there are a bunch of Denby's out there, lurking along Media Row. So Martha ends up getting fingered, and they all can 'tisk-tisk' and feed her into the shredder, while their own actions go under the radar because, outside of the social environs of Manhattan, the Hamptons and such, their pelts on the wall don't do diddly when it comes to getting some prosecutor a promotion.

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