Steve Elling Addresses Mickelson Insider Trading!!

One of golf’s few reporters possessing a spine, Steve Elling, has written about the FBI investigation of Phil Mickelson, in a piece entitled, For Once, Phil ‘Lefty’ Mickelson Did Not Get It The Right Way:

If it seems like the stuff of potential wrist slaps, please note: the US businesswoman and television personality Martha Stewart served five months of prison time on similar charges.

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6 Responses to Steve Elling Addresses Mickelson Insider Trading!!

  1. Bermuda Bob says:

    For the life of me, I can’t come up with a reason why anyone or everyone ought to care about this unless it’s because they are jealous that THEY didn’t get those supposed tips !!!

    As far as the “Former SEC Prosecutor” is concerned, the last I look, the Constitution said that we enjoyed a presumption of innocence as opposed to having to prove our innocence !!!

    As I have noted before, I have seen reports that they could not meet the demands of a arrant for a Wire Tap, so I doubt that they have anything more than their own zeal to deal with.

    • lannyh says:

      Okay, I’ll try to help. Say I’m in Vegas, and I’m playing Hold ‘Em poker. Later I learn that the dealer was “giving tips” to one of the players about the unturned common cards. It’s obvious such a practice takes money out of MY pocket. Do you really think the only reason I could be unhappy with the crookedness would be “jealousy”?” Because I wanted to be the one to cheat? That’s silly.

      You enjoy a “presumption of innocence” during a criminal trial in a courtroom. You certainly don’t get it in the “court of public opinion.” As well, in civil cases, there is no “beyond a reasonable doubt.”

      • Bermuda Bob says:

        I don’t see the nefarious Dealer taking $$$ out of your pocket … He could be fired by his employer -the casino – for stealing from them !!! The player might get arrested if it can be proved that there was collusion, but it rarely, if ever, happens !!!

        I had a BJ Dealer in Vegas that had an unwitting “tell” that I picked up on from 3rd Base … I made everyone who stayed and played until her shift was over a lot of $$$ !!!

        Was I wrong for not telling the Pit Boss ???
        Were WE wrong in enjoying the benefits of my realization ???

        No, she could have been fired for cheating the Casino, but players don’t get arrested …

        I think Phil’s situation a moot topic unless and until Phil is actually charged, but even then I believe it will be questionable … Even if he is charged, I still believe that he cheated no one !!!

      • lannyh says:

        If the dealer is helping one player, that money comes out of the pockets of the other players. The casino gets its rake all the same. The dealer and the player are taking money out of the pockets out of those who think it’s an honest game. That’s precisely what Mickelson and Walters did.

      • Bermuda Bob says:

        First of all, your contention has to be proven …
        Secondly, no one lost anything if there was no limit on the stock that could be purchased …
        Thirdly, when it supposedly happened I do not recall seeing that anyone shut trading down so it was not perceived as a anything more than an insignificant blip !!!

      • lannyh says:

        You need to go read all of the articles I posted on this. For one thing, OptionsMonster pointed it out the day it happened.

        They didn’t buy stock; they bought options. They paid a dime or quarter per share, knowing they would be worth over two dollars by expiration. The victims, so to speak, were the guys who sold the options, thinking the buyers were taking a legitimate risk instead of knowing darn well the options would appreciate.

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