Wall Street scared new attorney general could be Preet

[jakeXT]

Attorney General Eric Holder is heading to the exit door — and that’s making Wall Street nervous.

Executives in the financial services industry see Manhattan US Attorney Preet Bharara as a possible successor — and with his tough-on-corporate-crime history, believe a renewed focus on Wall Street could be coming to Washington.

Holder, after six years atop the Justice Department, is seen as not interested in highlighting white-collar crimes.


...

“It’s probably going to be the Southern District attorney as a direct response to what is the perception of Holder’s lack of aggressive prosecution of financial services executives,” LoPresti added.

Bharara, who has held his position since 2009, has successfully prosecuted more than 80 insider-trading cases, including former Galleon Group head Raj Rajaratnam, ex-SAC Capital trader Matthew Martoma, and forced a guilty plea from SAC Capital itself.

http://nypost.com/2014/09/26/wall-street-scared-new-attorney-general-could-be-preet/

[cantbeserious]

1. About Time - We Can Only Hope

eom

[Renew Deal]

2. Maybe Bharara should stay where he is so he can keep doing what he's doing

Also have to wonder if his "tough-on-corporate-crime history" is incidental because of where he works regionally. He might be "tough on agricultural crime" if he was located in farmland.

[Demeter]

6. I sure wouldn't sign up for a lame-duck

unless I had no desire to make a career of it, and it was a favor for a personal friend...like what Holder was doing!

Besides, Preet would outclass everyone else in Washington, with the possible exception of Elizabeth Warren. He'd do better working for her.

[drm604]

3. Wouldn't a nomination of Bharara be filibustered?

If Wall Street is so scared of him, Republicans will block the nomination, right?

[JustAnotherGen]

4. Yep

Which means Holder stays.

[drm604]

5. That's been my thinking.

He isn't going anywhere anytime soon. Both he and Obama must realize this, so what's the plan here?

Maybe there is no plan, maybe Holder sincerely want's to leave the position, but I can't help thinking that there's some political goal here.

[Demeter]

7. Goal?

Isn't it a little late in the game to have a goal? (I mean a strategy, not a score).


This is just a means of staunching the mortal wounds of the present administration, in the vain hope that it won't spill over into the next election.

It's unlikely to work, for all the reasons sited.

[dixiegrrrrl]

8. Holder announce early this spring he would be leaving this year.

Holder has not done anything the WH did not want him to do, and the WH is unlikely to pick a replacement who would act contrary to WH wishes.

If he leaves, the Deputy AG is the most likely person to fill in till there is a replacement.
It is probably a good idea for us to know who he is, since the Republicans will not be supporting any Pres. Obama candidates, and the fill-in guy will be there for awhile.

[drm604]

9. That would be James Cole.

http://www.justice.gov/dag/meet-deputy-attorney-general-0
I don't know much about him.

[awoke_in_2003]

10. anyone who could help change the course...

will never get confirmed.