Preet Bharara: Criminal Action End of World

Posted by admin on Monday, October 3, 2016

Preet Bharara Money Quote saying as U.S. attorney for the Southern District of New York that prosecution of bankers comes with frightening warnings that are absurd. Preet Bharara said:
 

 

“Financial institutions will do almost anything to avoid a tough enforcement action and therefore have a natural and powerful incentive to make prosecutors believe that death or dire consequences await. I have heard assertions made with great force and passion that if we take any criminal action, the skies will darken; the oceans will rise; nuclear winter will be upon us; and the world as we know it will end” — Preet Bharara

 

 

In this quote, Preet Bharara seems to be critiquing tactics used by large financial institutions to discourage criminal enforcement actions against them. Some key points:

• He notes that these institutions will try almost anything to avoid tough penalties, giving them a strong motivation to exaggerate potential repercussions.
• Bharara suggests they make prosecutors believe doom and gloom scenarios like “the skies will darken” or “the world will end” if charges are actually pursued against the companies.
• This implies the institutions use hyperbolic doomsday rhetoric and appeal to fear of unintended consequences rather than addressing criminal accusations on their merits.
• The quote conveys Bharara’s view that such overblown warnings are disingenuous attempts to sway prosecutors through dramatic claims rather than legitimate legal or policy arguments.

Overall, Preet Bharara appears to be criticizing financial entities for employing scare tactics and apocalyptic forecasts as pressure tactics to deter criminal charges, rather than engaging responsibly on the facts of alleged wrongdoing.