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Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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NEWSLETTERS & ALERTS
Preet Bhara and 45 Other U.S. Attorneys Asked to Resign - AG Sessions
[Photo: AG Jeff Sessions with VP Mike Pence; by Gage Skidmore / Wikimedia Commons]
The NYTimes reports that Attorney General Jeff Sessions has asked the remaining 46 chief federal prosecutors left over from the Obama administration to resign immediately. And that includes Preet Bharara. In November, Trump personally asked Mr. Bharara to stay on. Apparently not for the long haul!
While today's firings were a surprise, it's important to remember that federal prosecutors are political appointments and that it's not unusual for a new president to replace U.S.attorneys appointed by a predecessor. In terms of replacing all U.S. attorneys at once, think back to 1993, when Bill Clinton fired all 93 U.s. attorneys on the same day. In any case, until the new U.S. Attorneys are confirmed, the dedicated career prosecutors in each office will take over and serve in an acting capacity.
SIDENOTES: The New York Times wonders where Dana Boente, the acting deputy attorney general, stands in this firing scenario. Mr. Boente, who was on the phone to at least some of the terminated attorneys, is the U.S. attorney for the Eastern District of Virginia. It's also unclear how the order affects Rod Rosenstein, the U.S. attorney for Maryland, whom Mr. Trump has nominated to be the deputy attorney general.
For Your Consideration. Perhaps the Trump administration wishes to stifle the progress of federal prosecution cases - in its efforts to thin out the regulatory environment. It's interesting to note that today's firings come less than 24 hours after Fox News commentator, on his show, called for a 'purge' of Obama appointees at the Justice Department - that, from The NYTImes.