These Bank Profits Made Possible by Taxpayers Like You

These Bank Profits Made Possible by Taxpayers Like You


Posted Saturday, July 18, 2009 - 7:07am

Mark Cuban, billionaire owner of the NBA's Dallas Mavericks, had a civil insider-trading suit against him dismissed. The Times reports, "The S.E.C. asserted in a lawsuit in November that Mr. Cuban had sold shares of Mamma.com, a Canadian Internet search company, after receiving confidential information from its chief executive in a telephone call that the company was going to sell additional shares through an equity offering in 2004." The S.E.C. appears to have botched the case but has 30 days to file an amended complaint. Don't count on hearing from Cuban, though. He Twittered, "Thanks for all the kind words everyone! As far as media, im not going to be commenting at all, but thx for asking," according to the Washington Post.

  • Paul Smalera has written for Condé Nast Portfolio, The New York Times and The New York Observer among others. He blogs at true/slant.

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Goldman - Chase

Of course the taxpayer made their billion dollar profits possible: we lent them the money to do it!

Goldman - Chase

What staggering profits these two have posted! Maybe there is hope for the recovery later this year.

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