The insider trading investigation that Preet Bharara, the U.S. Attorney for the Southern District in Manhattan, is now conducting is a career-maker--or a career-breaker. It all depends on how well it goes. It could propel his career forward, the way it did Rudy Giuliani and Andrew Cuomo, or it could tarnish his reputation.

He seems to know this, as he has couched his probe in the kind of zealous rhetoric reserved for momentous events. Bharara has indeed invoked class distinction as a factor and the idea of inside information as an illegal drug, which have led some to conclude he has overplayed his hand.

Some more direct criticism comes from a columnist in TheStreet.com, who thinks that this is an attempt to compensate for previous missteps. "Let's take a look at Preet Bharara's track record on the actions of the big banks that have surfaced so far in actions by other branches of the federal government. The Goldman Sachs scheme to allow the Paulson hedge fund to manufacture a synthetic CDO--nothing. The Lehman Brothers asset-shifting scheme--nothing." And then there's the mortgage disaster, for which no major executive has been held accountable.

So, what do you think? Is this case all about redemption for the U.S. Attorney? We'll be in better position to answer the question once we get some specifics--which we assume are coming. It really boils down to the alleged wrong-doing, the specific behavior being probed.

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