Insider trading changed forever about the same time that Preet Bharara took office.
According to Fortune, “…Bharara also gets high marks for his management of the Southern District. "They have a real spring in their step in that office now," says Bill Burke, the former deputy White House counsel under George W. Bush who has known Bharara for nearly a decade and says Bharara has brought "energy and a natural leadership quality" to the office. "One of the most important things for the assistant U.S. attorneys," he says, "is to feel like the boss has got their back. Preet trusts in them and believes in them. It has given that office a real boost."
With the effective use of wiretaps in the Rajaratnam case -- a decision that was made prior to Bharara's taking over the office and required a judge's approval based on evidence of probable cause -- he is credited with instilling a new sense of fear among Wall Street traders of every stripe..
“…However hard he tries, it's difficult to keep the adulation at bay. After his office won the conviction of Rajaratnam, Bharara was lauded far and wide. CNN named him one of its "most fascinating people." The Washington Post described him as the new "Sheriff of Wall Street." The Huffington Post called him "the scourge of Wall Street" -- meaning it as a compliment. The New York Times noted that the verdict confirmed the Southern District of New York was "back" and gave Bharara a heaping dose of the credit. "Mr. Bharara is a charismatic figure who is comfortable in front of cameras, can talk tough, and has a knack for the witty sound bite," the paper wrote.
It's not hard to see why Bharara is so widely admired. His Horatio Alger-esque story is nearly irresistible...
Find out more at http://finance.fortune.cnn.com/2011/08/02/preet-bharara-the-enforcer-of-wall-street/
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