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SEC P2November 18

November 18, 2008

On behalf of

Mark Cuban

RE: SEC Civil Action in the United States District

for the Northern District of Texas, Dallas Division

The SEC knows their case centers on one telephone conversation between two individuals- 4 years ago. The SEC claims there was an agreement between these parties to the conversation to keep certain information confidential. We interviewed Guy Faure, the former CEO of Mamma.com Inc., with whom the SEC claims Mr. Cuban made an agreement. We had a court reporter transcribe the interview. There was no agreement to keep information confidential. Here is a relevant exerpt from the interview with Mr. Faure:

CHRISTOPHER CLARK :

1) Q- We spoke earlier about you were telling Mr. Cuban in words or substance : “I have confidential information for you”.

A- Right.

2) Q- Do you recall anything Mr. Cuban said in response or reply to that statement by you ?

A- No, I do not.

The SEC knows this-they have the transcript, yet they brought the case anyway. Why? Do they have a different statement from Mr. Faure ?

Why did the SEC end their multi-year investigation of Mamma.com Inc. for alleged securities laws violations days before interviewing present and former Mamma.com Inc. executives about this matter? Was the timing a coincidence? We think not.

Any inquiries respecting this release should be directed to Stephen Best at Dewey & Le

The SECNovember 17

I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.
November 17, 2008
RE: SEC Civil Action in the United States District

for the Northern District of Texas, Dallas Division

Mark Cuban today responded to a civil complaint filed by the United States Securities and Exchange Commission in the United States District for the Northern District of Texas, Dallas Division. In its complaint, the Commission charges that Mr. Cuban engaged in violations of the federal securities laws in connection with transactions in the securities of Mamma.com Inc.

This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division.

Mr. Cuban stated, “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so.”
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Ralph C. Ferrara, Esq.

Dewey & LeBoeuf LLP

1101 New York Avenue, N.W., Suite 1100

Washington, D.C. 20005

PE Obama’s 1st Big MistakeNovember 8

Its great to see President Elect Obama aggressively taking on the economy prior to his taking office. Unfortunately, the economic advisory team that he has put together looks more like a semester’s worth of great guest speakers  for an MBA class than an economic advisory team that can truly help him.

There are a lot of great minds on the list.

“Robert Rubin, Larry Summers, Laura Tyson, who served as Clinton’s top economic adviser; former Fed Vice Chairman Roger Ferguson; Time Warner Inc. Chairman Richard Parsons; former Securities and Exchange Commission chairman William Donaldson and Xerox Corp. Chief Executive Officer Anne Mulcahy.

Google Inc. CEO Eric Schmidt, Michigan Governor Jennifer Granholm and Roel Campos, an ex-SEC commissioner, and Warren Buffett are also on the advisory board.”

Notice anything missing ?

Not a single entrepreneur. Yes Warren Buffett started a business, but he will be the first to tell you that he “doesn’t do start ups”. Which means there isn’t a single person advising PE Obama that we know of that knows that its like to start and run a business in this or any economic climate. That’s a huge problem.

If we are going to solve our current economic problems, our President needs to get first hand information on the impact his proposed policies will have on real Joe the Plumbers. People who are 1 person companies living job to job, hoping they get paid on time.  We need to know w

Proud To Be an AmericanNovember 5

I voted for President Elect Obama.

The rest of my votes went almost exclusively to Republicans , Libertarians and Independents.

In looking at the Democratic platform, there are a few things I agree with, but on the economic side, other than being ok with him raising my effective tax rate to 40pct, there isn’t a lot of his economic policy that I do agree with him on. So why did I vote for him ?

Its simple. Having an elected black President will do more to energize this country than any economic or social policy ever could. In a single day of voting, our amazing country once again reinvigorated the dream that any child in this country, no matter what circumstances they are born into, can grow up to be anything they want, including President of the United States.

That dream, staying viable, being reinvigorated, will do more for this country than any economic policy or any legislation that could ever be passed.

I have said it before, the power of the American Spirit is what separates our country from every other. We have been able to overcome the stupidity that politicians do every year, and will do for ever more.  The election of Barack Obama is a shot of adrenaline for those who felt they could never participate in the American Dream.

How do you stimulate and turn around the economy in this day and age ? Motivate those who in the past couldn’t , wouldn’t or didn’t, into those who can and do. Motivate those who can

The Stock Market: The New Normal ?October 27

“Past Performance is No Indication of Future Results”. Its a statement attached to every financial salespitch ever offered.  So why is it no one believes it ?

Turn on CNBC, Fox Business, Bloomberg, and every other comment from the “experts” mouths are “historically when the Dow ….fill in the blank….” or “for the last X years, every time the market did X, then Y has happened within Z months”

Folks, it is different this time. Until this past year, at no other time in the history of the US Markets has there been Investment Banks investing for their own accounts to the tune of 30 or more to 1 leverage.

At no other time in the history of the Markets are there 17k mutual funds and more than 10k hedge funds. All competing with each other for the right to make a ton of money off of your money.

At no other time in the history of this country did savings fall as far below zero pct of income

At no other  time in the history of this country were net effective interest rates as far below zero

At no other time in the history of our markets have the words “blue chip” completely lost their meaning.

At no other time in the history of our markets has the money of consumers been so portable and movable between hedge funds and mutual funds. Which means that at no other time have mutual funds and hedge funds been so susceptible to redemption runs.

At no other time have consumers been so in the dark abo