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NY federal atty: Stop corporate doomsday cries

March 31, 2014
Associated Press

NEW YORK (AP) — A federal prosecutor from New York says corporate America — especially financial institutions — will do almost anything to avoid a tough enforcement action.

U.S. Attorney Preet Bharara (buh-RAH'-ruh) said Monday that includes using a "Chicken Little" routine by threatening "death or dire consequences" to evade criminal charges.

Bharara's remarks were delivered Monday at a conference in Orlando, Fla.

He says senior executives have told him "with great force and passion" that criminal action will doom stock prices, cause clients and customers to flee and make senior executives want to quit.

Bharara says his office is increasingly taking those claims with grains of salt.

Instead of the sky falling in "Chicken Little" fashion, he says the company's fortunes sometimes actually improve because it's viewed as putting problems behind it.

 
 

 

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