The much-heralded (and hyped) insider-trading crackdown by Manhattanâ??s very own US attorney, Preet Bharara, was always based on a dubious moral premise: that a bunch of Wall Street traders who profited so much during the bubble years needs to be held accountable for the 2008 financial crisis, even if their alleged crimes had nothing to do with the meltdown.
Now we know that much of Preetâ??s legal premise for all those prosecutions was pretty dubious as well.
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