# Martha Stewart and Doug Faneuil - the both sound like liars

**URL:** <https://boards.straightdope.com/t/martha-stewart-and-doug-faneuil-the-both-sound-like-liars/228450>\
**Category:** Great Debates\
**Created:** [February 10, 2004, 2:50pm UTC](https://boards.straightdope.com/t/martha-stewart-and-doug-faneuil-the-both-sound-like-liars/228450 "2004-02-10T14:50:54Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![Running\_with\_Scissors](https://avatars.discourse-cdn.com/v4/letter/r/a183cd/32.png) [@Running\_with\_Scissors](https://boards.straightdope.com/u/Running_with_Scissors)\
**Post date:** [February 10, 2004, 2:50pm UTC](https://boards.straightdope.com/t/martha-stewart-and-doug-faneuil-the-both-sound-like-liars/228450/1 "2004-02-10T14:50:54Z")

</div>

OK, Martha claims she had a standing order with Faneuil to sell if the price dropped to $60. This is called a stop loss order, and any broker would know how to enter this into his trading system; it is not his responsibility to watch the price of individual stocks, the system does that for him. Since there’s been no mention of a stop loss order in any of the stories I’ve read, I have to assume that Stewart’s lying about this.

In addition, Doug claims that he “didn’t know” that passing the ImClone information to Stewart was illegal. As a licensed broker, he presumably would have had to pass a Series 7 exam (and possibly others). While I’ve never taken one of these, I assume that it goes over in detail what sort of information is and isn’t legal to pass to clients. Therefore I draw the conclusion that Faneuil is either lying or incompetent.

I have to admit that I haven’t been watching the case that closely, just picking up stories here and there on Yahoo that interest me.

Anyone else agree?