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Surprise! Preet Bharara Is Really Funny

Wednesday, 18 Jul 2012 | 5:36 PM ET
Cramer Interviews US Attorney Preet Bharara
Mad Money host Jim Cramer discusses insider trading, the culture within business organizations, and how much time companies need to spend on catastrophic events, with U.S. Attorney for Southern New York Preet Bharara.

Who would have thought that the man who may be Wall Street’s toughest cop would be the funniest guy at the CNBC and Institutional InvestorDelivering Alpha conference?

Preet Bharara, the U.S. Attorney for the Southern district of New York who has led 71 insider trading prosecutions in the past few days, got more laughs during his interview with Jim Cramer than anyone else who has appeared on the stage at the Pierre Hotel.

Cramer started out the interview on a lighthearted note, asking Bharara what percentage of people in the room were wearing a wire. That got a polite chuckle. (Watch the interview here.)

But Bharara brought down the house with his response.

“I was told there would be a lot of people from the hedge fund industry here. I didn’t realize just how many. I apologize in advance that I don’t have subpoenas for all of you,” he said.

Preet Bharara
CNBC
Preet Bharara

The audience appeared genuinely amused.

Although one person sitting beside me pointed out: "These guys had better laugh at his jokes. Or else Preet might show up with a search warrant."

Delivering Alpha

Delivering Alpha 2012 Video

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  • U.S. Attorney for the Southern District of New York Preet Bharara is interviewed by Jim Cramer at the "Delivering Alpha" conference presented by CNBC and Institutional Investor on July 18, 2012 in New York City. This is an unedited video of the complete event.

Delivering Alpha 2012 Advisory Board

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    After a long and successful career on Wall Street, Schloss now works for New York City, where he is deputy comptroller for asset management and chief investment officer for the New York City Retirement System.

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