Boesky to Waksal: Insider Trading's Decline

In an episode of the television show America's Dumbest Criminals, Florida police relate the case of a man who tried to rob a grocery store at gunpoint, using a paper bag as disguise with holes cut out so he could see.

The nefarious plot goes awry when the bag shifts, obscuring the man's sight, then splits completely, revealing his face to the desk clerk who recognizes him as a regular customer.

Sam Waksal, the former CEO of ImClone Systems (IMCL Quote), might have laughed at the story -- if only he wasn't charged with an equally stupid crime that was roughly as difficult to solve. ...