It may seem strange that Wall Street’s top cop has chosen to attack Galleon and SAC instead of the institutions at the heart of the mortgage meltdown that brought on the financial crisis. It may seem even stranger when you consider that a lot of legal scholars don’t think insider trading is fraud, and a few even think it should be encouraged.
It is strange. That said, it’s pretty clear why it happens: Bharara and his predecessors (Rudy Giuliani held the same job in the late 1980s) have taken on insider trading cases because they can win them….
‘Enforcement 40’ for 2020
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