No doubt, it's a farce. It's all a big fat farce. I am not surprised by this in the least, and I do not think Martha should have gone to jail. Every normal human being shares rare knowledge with friends and family, even more so when it can bring a financial reward.
One of my favorite sentences on Wikipedia:Japan enacted its first law against insider trading in 1988. Roderick Seeman said, "Even today many Japanese do not understand why this is illegal. Indeed, previously it was regarded as common sense to make a profit from your knowledge."
http://www.democracynow.org/2004/3/11/was_martha_stewart_targeted_because_she Worthy of note - Ken Lay was eventually charged, found guilty and had his sentence vacated 'cuz he was fuckin' dead. Which pretty much says everything you need to know about the Bush administration.