In praise of Preet Bharara
The resounding win by the government in the trial of alleged insider trading mastermind Raj Rajaratnam throws a spotlight on Preet Bharara, who has already distinguished himself as a more-than-worthy U.S. Attorney for the Southern District of New York.
He was seen often at the trial, supporting his prosecutors, and he's no doubt feeling emboldened about the verdict. He has sent a message to Wall Street that he doesn't consider insider trading a victimless crime and that he will go to unusual lengths to nail the bad guys.
This comes on top of several notable accomplishments in his fairly short tenure. He has prosecuted the likes of Faisal Shahzad in the Times Square bomb plot, alleged Russians spies, the first Guantánamo Bay detainee to be tried in the civilian system, a big Russian alleged arms dealer and four men in a bomb plot, notes the New York Times.
The biggest knock on him so far is that he has not filed any criminal charges against Wall Street executives for their role in the financial meltdown. One could argue that such discipline is a positive. Had the evidence been there--and it is lamentable that it apparently is not--he wouldn't have been shy about bringing charges.
People can't help speculating about the future. Will Bharara use the office as a stepping stone to a political career, as so many of his predecessors have? He says he has no interest in running for office--which to me is refreshing to hear. Career prosecutor--or career regulator--is a lofty calling. I for one would be disappointed if he left to run for office. Just as I would be disappointed if FDIC head Sheila Bair joins a bank.
For more:
- here's the article
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