HOUSE_OVERSIGHT_019847.jpg
2.95 MB
Extraction Summary
9
People
11
Organizations
3
Locations
3
Events
3
Relationships
3
Quotes
Document Information
Type:
Report / article fragment (house oversight committee evidence)
File Size:
2.95 MB
Summary
This document is a page from a larger report (identified by the House Oversight footer) analyzing the tenure of Preet Bharara at the Southern District of New York (SDNY). It criticizes the office for failing to prosecute individual banking executives following the 2008 financial crisis, noting that while firms like SAC Capital and JPMorgan Chase faced fines or pleas, individuals (with the exception of Kareem Serageldin) generally avoided criminal charges. The text discusses the jurisdictional habits of the SDNY and its handling of cases related to the Madoff Ponzi scheme and mortgage-backed securities.
People (9)
| Name | Role | Context |
|---|---|---|
| Preet Bharara | U.S. Attorney (implied) |
Criticized for not bringing criminal charges against individual bankers after the 2008 financial crisis.
|
| Sheelah Kolhatkar | Author |
Author of 'Black Edge'.
|
| Steve Cohen | Executive |
Of SAC Capital; was not personally charged, though his firm pleaded guilty.
|
| Eric Holder | Attorney General |
Shared Bharara's approach of not emphasizing financial meltdown investigations.
|
| Tomasz Piskorski | Academic |
Columbia University; found patterns of fraud in mortgage business.
|
| James Witkin | Academic |
Columbia University; found patterns of fraud in mortgage business.
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| Amit Seru | Academic |
University of Chicago; found patterns of fraud in mortgage business.
|
| Kareem Serageldin | Banker |
Credit Suisse; the only banker charged/imprisoned by Bharara's office for crisis-related misconduct.
|
| Bernie Madoff | Fraudster |
Mentioned in relation to the Ponzi scheme involving JPMorgan Chase.
|
Organizations (11)
| Name | Type | Context |
|---|---|---|
| SAC Capital |
Firm that pleaded guilty.
|
|
| Southern District of New York (SDNY) |
Also referred to as 'Southern District' and 'sovereign district'; criticized for lack of individual prosecutions.
|
|
| Justice Department (DOJ) |
Department overseeing the prosecutors.
|
|
| Lehman Brothers |
Collapsed investment bank.
|
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| Merrill Lynch |
Investment bank.
|
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| AIG |
Insurer.
|
|
| Credit Suisse |
Bank where Kareem Serageldin worked.
|
|
| JPMorgan Chase |
Fined $1.7 billion for complicity in Madoff scheme.
|
|
| Columbia University |
Academic institution.
|
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| University of Chicago |
Academic institution.
|
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| House Oversight Committee |
Source of the document (via footer).
|
Timeline (3 events)
Not specified
Locations (3)
| Location | Context |
|---|---|
|
Location of the U.S. Attorney's office.
|
|
|
Location of senior officials.
|
|
|
Metonym for the financial industry.
|
Relationships (3)
an approach shared by his boss, Attorney General Eric Holder
Kareem Serageldin of Credit Suisse
Steve Cohen of SAC Capital
Key Quotes (3)
"Justice Department insiders say many of those inquiries withered not because they were unpromising, but because they had little support."Source
HOUSE_OVERSIGHT_019847.jpg
Quote #1
"His office wrested a $1.7 billion fine from JPMorgan Chase over its complicity in the Bernie Madoff Ponzi scheme, but it brought no charges against individual bankers."Source
HOUSE_OVERSIGHT_019847.jpg
Quote #2
"Historically, the SDNY has been the leading enforcers of securities laws, nicknamed the “sovereign district” for its propensity to grab corporate fraud cases from elsewhere on the flimsiest of jurisdictional pretexts."Source
HOUSE_OVERSIGHT_019847.jpg
Quote #3
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