HOUSE_OVERSIGHT_019846.jpg
2.54 MB
Extraction Summary
7
People
6
Organizations
4
Locations
3
Events
3
Relationships
3
Quotes
Document Information
Type:
Article or narrative report (part of house oversight committee evidence)
File Size:
2.54 MB
Summary
This document appears to be an article or report excerpt (marked with a House Oversight Bates stamp) comparing the prosecutorial styles of Robert Morgenthau and Preet Bharara. It details Bharara's firing by President Trump in March 2017, his record of prosecuting NY politicians like Sheldon Silver and Dean Skelos, and critiques his focus on hedge fund insider trading over systemic Wall Street bank abuses. The text highlights the tension between political corruption investigations and executive power.
People (7)
| Name | Role | Context |
|---|---|---|
| Robert Morgenthau | Former US Attorney / NY County District Attorney |
Praised for prosecuting CEOs and executives rather than seeking fines; served seven terms as DA starting in 1974.
|
| Preet Bharara | US Attorney for the Southern District of New York |
Fired by President Trump; celebrated for prosecuting politicians but criticized for being less aggressive on Wall Str...
|
| Donald Trump | President of the United States |
Fired Preet Bharara 'this weekend'.
|
| Sheldon Silver | Democratic Speaker of the Assembly (NY) |
Prosecuted by Bharara; one of the 'three men in a room'.
|
| Dean Skelos | Republican Senate Majority Leader (NY) |
Prosecuted by Bharara; one of the 'three men in a room'.
|
| Andrew Cuomo | Governor of New York |
Created and then dismissed the Moreland Commission.
|
| Barack Obama | President of the United States |
Appointed Bharara in 2009.
|
Organizations (6)
| Name | Type | Context |
|---|---|---|
| Department of Justice |
Federal agency overseeing US Attorneys.
|
|
| New York County District Attorney's Office |
Office held by Morgenthau starting in 1974.
|
|
| US Attorney's Office for the Southern District of New York (SDNY) |
Office led by Bharara until his firing.
|
|
| Moreland Commission |
Ethics inquiry created/dismissed by Cuomo.
|
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| Lehman Brothers |
Subject of a probe inherited by Bharara.
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'.
|
Timeline (3 events)
2009
March 2017
Locations (4)
| Location | Context |
|---|---|
|
Jurisdiction for Morgenthau.
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|
|
Jurisdiction for Bharara.
|
|
|
Political jurisdiction for Silver, Skelos, and Cuomo.
|
|
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Mentioned regarding financial misdeeds.
|
Relationships (3)
Text draws parallels between their careers as US Attorneys.
Trump fired Bharara.
Cuomo created and then dismissed the commission.
Key Quotes (3)
"How do you justify prosecuting a nineteen-year old who sells drugs on a street corner when you say it’s too complicated to go after the people who move the money?"Source
HOUSE_OVERSIGHT_019846.jpg
Quote #1
"I know what the Moreland Commission must have felt like"Source
HOUSE_OVERSIGHT_019846.jpg
Quote #2
"The firms aren’t enmeshed in the global financial markets in the way that giant banks are."Source
HOUSE_OVERSIGHT_019846.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,676 characters)
fraud, they did not reach settlements that called for fines, the current fashion these days. They filed criminal charges against the executives responsible.
Before Morgenthau, the Department of Justice focused on two-bit corporate misdeeds—Ponzi schemes and boiler room operations. Morgenthau changed that. His prosecutors went after CEOs and their enablers—the accountants and lawyers who abetted the frauds or looked the other way. “How do you justify prosecuting a nineteen-year old who sells drugs on a street corner when you say it’s too complicated to go after the people who move the money?” he once asked.
Morgenthau’s years as United States Attorney were followed by political success. He was elected New York County District Attorney in 1974, the first of seven consecutive terms for that office.
There are parallels between Morgenthau, and Preet Bharara, the U.S. attorney for the Southern District who was fired by President Trump this weekend.
Like Morgenthau, the 48-year old Bharara leaves the office of US Attorney for the Southern District celebrated for taking on corrupt and powerful politicians. Bharara prosecuted two of the infamous “three men in a room” who ran New York state: Sheldon Silver, the Democratic speaker of the assembly and Dean Skelos, the Republican Senate majority leader.
He won convictions of a startling array of local politicians, carrying on the work of the Moreland Commission, an ethics inquiry created and then dismissed by New York’s Gov. Andrew Cuomo. (This weekend, Bharara cryptically tweeted that “I know what the Moreland Commission must have felt like,” a suggestion that he was fired as he was pursuing cases pointed at Trump or his allies.)
But the record shows that Bharara was much less aggressive when it came to confronting Wall Street’s misdeeds.
President Obama appointed Bharara in 2009, amid the wreckage of the worst financial crisis since the Great Depression. He inherited ongoing investigations into the collapse, including a probe against Lehman Brothers.
He also inherited something he and his young charges found more alluring: insider-trading cases against hedge fund managers. His office focused obsessively on those. At one point, the Southern District racked up a record of 85-0 in those cases. (Appeals courts would later throw out two prominent convictions, infuriating him and dealing blows to several other cases.)
Hedge funds are safer targets. The firms aren’t enmeshed in the global financial markets in the way that giant banks are. Insider trading cases are relatively easy to win and don’t address systemic abuses that helped bring down the financial system.
HOUSE_OVERSIGHT_019846
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