Abdullah Anwar

Preet Bharara Takes on Wall Street Crime

“In a recent speech in New York, Bharara surveyed the extensive rot of illegal activity on Wall Street and concluded, “The bigger and better question may not be whether insider trading is rampant but whether corporate corruption in general is rampant; whether ethical bankruptcy is on the rise; whether corrupt business models are becoming more common.” The Galleon case helps to answer these broader questions about the culture of the financial world: it illustrates how, over the past decade, cheating and self-dealing became the principal ways to succeed on Wall Street. Bharara’s campaign of deterrence has had a particularly strong effect at hedge funds.”