Insiders on Wall Street: Charged (part 2)

  

 Wall Street

                     In my last blog I had written about a man named Preet Bharara (New York Atty. General, southern district) and his battle he waged against Wall Street.  According to the Time Magazine article “the street fighter”, by Massimo Calabresi and Bill Saporito; “Bharara has been targeting what he calls the Wall Street culture of greed. there was a creeping culture  of corruption in our politics and also in wall Street and in business generally” he days” (Bharara; quoted by Time Magzine).

Of course with everything we’ve all been through in our Nation, thanks to Wall Street; nothing could sound more welcoming than a thorough crack down. Hence forth my attention spent in this particular case article by Time Magazine. But, I am very much like the rest of you out there who is wondering what happened to the American dream? Therefore, although the “Time magazine” article seemed to be the answer, being sent to the masses; I can not help but find myself reading between the lines (just my nature).

 This article was mounds of info about the case Bharara brought against the inside traders. Barbara bragged and bragged about his achievements in serious detail about the crack downs. What kind of prosecuting Attorney is allowed to brag to the public, details of such an important prosecution? Bharara explicitly continues into his self proclaimed “crackdown” on Wall Street. The Time Magazine article goes on to say about Bharara: “Bharara is aiming high making arrest so far up the Wall Street’s food chain, that Hedge fund bosses may be wondering about picking up the phone” (Time Magazine).

 Sure, it all sounds good; I mean Bharara has had six major arrest in the Wall Street scandal since 2009/10. Most of them weren’t convicted until 2011 and a few have trials coming up soon (4/2012). In the consideration of how bad off “the world”, markets are today, due to these criminal games; it seems to me, this is a small number. In fact, we are facing possible global issues that may continue as a ripple effect due to wall street/market crimes.

It looks' as if many other games are being played here as well. The sad truth is, each man on the ladder of life; either side of the fence (criminal or legal) is stuck in a puppet show of corporate overhead. It is very much a game indeed and in Bharara’s case he may be “Occupy Relief” on a large scale. It was to give the nation a sense of justice in the wake of poor publicity for Wall Street Likewise a sence of Government protection; for those who do business on Wall Street. Mind you Preet Bharara is the US Attorney (southern district). New York and therefore a government official.

 It looks as though this government official is playing the role of crowd control relief; P.R. for the N.Y. State House. As if Wall Street and N.Y. are not in bed together, either; please….  Not to mention Washington and the all important lobbyist who have so much invested in Wall Street. The fact that Preet was aloud to give full details into how he was able to nail the insider traders, publicly; utterly   reeks! I'm not worried about the traders reps, alt all, on the contrary; It's that this whole situation certainly gives a nice little “how to guide” on how not to get caught as an inside trader. It just looked very suspicious is all I’m saying.

The very fact that only two weeks after the article came out, providing the world with faces , names and dates on the market traders being caught and charged. That only two weeks later the Dow Jones managed to hit 1800 points for the first time since 2008.The fact that has risen to this amount, is only proof that the convictions  (publicized) worked. Now that the public knows some one's on the job they are reconsidering their recent fears of market involvement.

  It seems to me like someone has a handle on how to deal with the public. Because they have evidently caught the attention of many in our Nation who do like to interact in the stock markets, but fear the coruption. Time Magazine is ones of the most popular magazines in our Nation. Time Magazine is likewise a very popular Magazine around the globe. This move that allowed Bharara to tell his story and give up the bad guys was a move that is obviously working. What I do not understand is how people cannot see through this whole production?

  Preet has many high-end connections that may need Wall Street far too much to allow this type of unpopularity to carry on (like Bush).  Therefore, for Preet the risk may have been worth taking. For in the full measure of the effect, it could have great political roles for him in the future. What ever the motive was, he surely had no future in stopping insider trading after the fact; because he’s already revealed to them all how not to get caught. Do you know, for all this trouble, many of these traders, got merely a 3 year sentence. It will amount to about 1 ½ years served with good behavior? Patting ones self on the back about 30 times in one articles, for these messily sentences is hardly becoming.