The uneasiness started late last week, when news broke that Gary Gensler — a scourge of Wall Street when he led the Commodity Futures Trading Commission — had been tapped to examine financial regulators for the president-elect. That fueled concerns that Gensler himself might be in line for the top job at the SEC or another agency he’s reviewing.
Then Washington lobbyists and industry trade groups got wind of another SEC contender who they would find potentially more alarming: Preet Bharara, Manhattan’s former top federal prosecutor. Bharara loomed large over Wall Street in the decade following the 2008 financial crisis, when he aggressively investigated insider trading and contributed to SAC Capital Advisors, Steven Cohen’s old hedge fund firm, shutting its doors.
via Wall Street Knows Who It Doesn’t Want at SEC: Gensler or Bharara.
