Whatever dent his reputation took for the reversal of the insider trading cases, Mr. Bharara seemed to make up for it by pursuing public
corruption cases against Sheldon Silver, the former Democratic State Assembly speaker, and an investigation of Mayor Bill de Blasio.
An appeals court overturned two insider trading cases, forcing him to seek the dismissals of seven similar convictions,
and said his office was using a “doctrinal novelty” to prosecute the cases.
The New Yorker magazine called him “The Man Who Terrifies Wall Street.” But critics contended
that this reputation was, in part, the result of overreaching: As evidence, they pointed to a federal appeals court that overturned two of Mr. Bharara’s most prominent insider trading convictions.
“If we’re not bringing a certain kind of case, it’s because the evidence is not there — pure
and simple,” Mr. Bharara said in 2014 in a wide-ranging interview with Worth magazine about why he never prosecuted a bank C. E.O.
“Insider trading cases are relatively easy to win and don’t address systemic abuses that helped bring down the financial system.”
Maybe Mr. Bharara was just being pragmatic, with his deep understanding and appreciation for what would make news.
Several years later, another story line emerged: Mr. Bharara had turned into the “Sheriff
of Wall Street” by aggressively prosecuting hedge fund managers for insider trading.
In the many insider trading cases he brought, which were often heralded with news
releases, his goal wasn’t just to win in court, but to scare Wall Street.