Martha Stewart Inside Stock Trade Trial (2004) #finance #money #marthastewart #theeconomicarchives — Transcript

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1. 0:01formal jury selection began here in new
2. 0:03york today in the criminal trial of
3. 0:05martha stewart she faces federal charges
4. 0:07that she lied about using inside
5. 0:10information to make a profit on a stock
6. 0:12trade conviction could mean prison for
7. 0:15the businesswoman who sold herself to
8. 0:17millions of americans as a personal
9. 0:19guide to gracious living cbs news
10. 0:21business correspondent anthony mason
11. 0:23reports
12. 0:25ms stewart is there anything you want to
13. 0:27say martha stewart chose to face a jury
14. 0:29of her peers rather than accept a plea
15. 0:31bargain today the challenge began to
16. 0:34find 12 impartial jurors i think she's
17. 0:37going to come in with the jury being a
18. 0:39little bit more skeptical of her than of
19. 0:41someone they've never heard of the home
20. 0:43decorating diva is accused of lying to
21. 0:45the government about a stock trade in
22. 0:47december of 2001 she abruptly sold
23. 0:50nearly 4 000 shares of imclone worth 227
24. 0:54thousand dollars just a day before bad
25. 0:57news broke about the company's cancer
26. 0:59drug that trade saved her at least forty
27. 1:01six thousand dollars in losses and let's
28. 1:04face it she sold
29. 1:05that stock at a very suspicious time
30. 1:07charles gasparino broke the steward
31. 1:09story for the wall street journal and is
32. 1:11now writing a book on the wall street
33. 1:12scandals how would anybody know to sell
34. 1:15a day before that announcement and by
35. 1:18the way if she did have information that
36. 1:19people didn't have
37. 1:21she should be held accountable steward
38. 1:22told investigators she had a standing
39. 1:24order with her broker peter mckonovic
40. 1:26who's also on trial to sell the stock if
41. 1:29it fell below 60 dollars but bocanovic's
42. 1:31assistant is expected to testify his
43. 1:33boss lied about that alibi
44. 1:36imclone's founder sam waxel a close
45. 1:38friend of stewart's is already serving
46. 1:40seven years for insider trading
47. 1:43if convicted stewart could face up to 30
48. 1:46years in prison for a transaction that
49. 1:48saved her all of 46 thousand dollars her
50. 1:51career could now be at stake in this
51. 1:53courthouse
52. 1:54i'm not sure that you can both be the
53. 1:57world's leading expert on dinner parties
54. 1:59and also a felon
55. 2:01so her future is you know very much
56. 2:03imperiled by this on the other hand if
57. 2:05she prevails says forbes editor dennis
58. 2:08neal it could really give her
59. 2:11frailty because it's hard to feel sorry
60. 2:13for someone whose life is perfect
61. 2:15martha stewart made an industry out of
62. 2:17being a domestic goddess now she's
63. 2:19hoping a jury will just see her as human
64. 2:23anthony mason cbs news new york
65. 2:26veteran journalist jerry nachman