Good morning.
Over the weekend, I watched the Martha Stewart documentary on Netflix – which she hates. I used to be shocked to listen to my voice – presumably ripped from an earlier documentary or information report – doing a part of the voiceover just a few instances close to the beginning. (The producers didn’t credit score me, in a lot the identical method that the producers of The Best Evening in Pop paid a pittance for entry to tapes that my pal David Breskin recorded within the studio and ended up utilizing them to basically carry the entire movie.)
However I digress. This can be a column about Martha, who had her profession and her firm ripped away from her for against the law that—in my view—ought to by no means have gone to courtroom. I argued on the time that the federal government was going after “America’s Homemaker” with a baseball bat as a result of she’d acted on a tip from her dealer that CEO Sam Waksul was promoting his ImClone inventory after which tried to cover the doubtful crime in a panic. (I wrote a cowl story on Martha for BusinessWeek as she was taking her firm public.)
The one who led the investigation and introduced expenses towards Martha was James Comey, then U.S. Lawyer for the Southern District of New York. As a result of that jurisdiction covers Wall Avenue, whoever occupies the function basically acts because the federal authorities’s chief prosecutor of white-collar criminals. It’s been a launch pad for a lot of formidable prosecutors, together with Rudy Giuliani. (Eliot Spitzer clerked there and took on Wall Avenue from Albany, as New York’s Lawyer Normal.)
Comey, after all, was famously fired as FBI director in 2017 by the then-President Donald Trump. He additionally impacted the course of the 2016 election by sending an open letter to Congress, implying Hillary Clinton is perhaps indicted for sending emails from a personal server simply days earlier than that election. (She was not.)
Martha Stewart was on the prime of her sport with a billion-dollar model that was a job mannequin for multiplatform journalism and commerce. She was the unique influencer and a pretty goal for anybody making an attempt to make a reputation for themselves. Did she undergo from hubris and a way of entitlement? Maybe. Did she should go to jail for what she did—and perpetually lose the appropriate to run her firm? No.
There’s one other lesson, too, in seeing how an aggressive prosecutor motivated by components aside from equity can wreak havoc on the lives of the folks they go after. I take into consideration that as I look out on the selections being made by the incoming Administration – and hope we don’t see extra folks focused for who they’re, as an alternative of what they’ve completed.
Extra information under.
Diane Brady
diane.brady@fortune.com
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