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Archive for the ‘Preet Bharara’ Category

Poll: Should Feds Settle with ‘Stevie Boy’ Cohen?

Posted by Larry Doyle on September 24th, 2013 9:12 AM |

News breaks in the past 24 hours that one of Wall Street’s largest traders, “Stevie-boy” Cohen of SAC Capital, is now looking to cut a deal with the Feds. Is the heat in Stevie’s kitchen getting a little too hot?

As Bloomberg Businessweek reminds us:

After a multiyear investigation conducted by the U.S. Attorney’s Office, the FBI, and the Securities and Exchange Commission, a grand jury indicted SAC Capital on July 25, accusing the firm of fostering a culture where employees engaged in rampant securities fraud.

Now Stevie wants to play Let’s Make a Deal.  (more…)

Preet Bharara: Big Bark, But Where’s The Bite?

Posted by Larry Doyle on July 19th, 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.  (more…)

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