Preet Bharara: Big Bark, But Where’s The Bite?
Posted by Larry Doyle on July 19, 2013 9:19 AM |
The US Attorney for the southern district of New York, Preet Bharara, certainly occupies one of the most powerful positions within law enforcement in the nation.
Yet here we sit 5 full years from the outset of what any reasonably intelligent individual knows is a fraud-induced and executed crisis, and what do we have to show for meaningful justice?
Aside from the prosecution of a handful of ne’er-do-well hedge fund nitwits and an array of shareholder paid fines, the record books to date have very little to show for justice.
I found myself thinking of this track record as I listened to Bharara inform CNBC’s Jim Cramer that nobody and no institution is or should be too big to jail. I am not saying Bharara’s job is an easy one but there comes a point in time when it is put up or shut up. I think most in America would say we have passed that point.
The following 32 minute clip is filled with a host of topics this blog addresses regularly but it is often tough to listen to Bharara’s big bark given that there has been little to no meaningful bite.
I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.