Preet Bharara

Q: You have also received criticism from some on the left– including writer Matt Taibbi and Wall Street documentarian Charles Ferguson– who say that while you’ve convicted insider traders, you’ve missed the big guys who committed the mortgage fraud that led to the financial crisis. How do you respond do that? A: I would suggest that some of these critics go to law school and apply themselves and become prosecutors and make the case that they think we should be making. This is by reputation and track record the most aggressive office in white-collar crime in the country ever, and if we’re not bringing a certain kind of case, it’s because the evidence is not there. Pure and simple. [Worth]

He’s just saying that the right man for the job would have to look an awful lot like him. Read more »

Preet Bharara is a big-picture kind of guy. He’s won more than 80 insider-trading convictions. Sure, there’s the one that got away, mostly because the judge presiding was, in Preet’s considered opinion, a fucking idiot. And, sure, it hurt. Still does. But he’s not going to let that get him down. No. He’s going to start a new streak right now. Read more »

It seems that the Justice Department and everyone else only care a little that the bank had the best of intentions when it decided to get into bed with genocidal governments. Read more »

At a conference in Orlando this year, for example, Mr. Bharara recalled a scene from the movie “The Wolf of Wall Street,” when a character threw a subpoena in a trash can to urinate on it. Mr. Bharara told the crowd that he grew agitated, struggling to understand why anyone would show such disdain for a subpoena. “Then I realized something very important,” he said, pausing for effect. “It was sent by prosecutors in Brooklyn” rather than from his office in Manhattan, he added to an eruption of laughter. “And then I totally calmed down.” [Dealbook via Matt]

  • 26 Feb 2014 at 6:27 PM

The Bitcoin Bugle: Nothing Is F*cked

The sudden disappearance of what was once the world’s largest bitcoin exchange—and all of the bitcoins “contained” therein—is apparently not a good reason to stop speculating in fake currencies. Read more »

  • 07 Feb 2014 at 5:02 PM

What Does Mathew Martoma’s Conviction Really Mean?

So, the insider trader formerly known as Ajai Mathew Thomas has been convicted of said insider trading, just like everyone else who’s been charged with it in the last five years. But forget this nobody grain of sand. How does it impact his former boss and conversation partner?

Answer: Probably not at all.

From a public relations standpoint, his conviction signifies another blow for Cohen, who had already been forced to drop all of his clients in converting SAC Capital into an investment vehicle for his $9 billion fortune.

Unless prosecutors leverage yesterday’s verdict to convince Martoma to turn against his former boss, however, his conviction is likely to have little bearing in their on-going pursuit of Cohen.

On the other hand, maybe? Read more »