NY Governor Cuomo Still Wants To Fight Financial Fraud

How many sheriffs can there be in one town?  Right, one. There can be deputies and on occasion the sheriff can get other people’s help (a "posse") or fight alone, like Gary Cooper. (OK, Gary Cooper technically played a marshal in “High Noon,” but you get the point.) But there's always one sheriff.

Now, though, it appears that New York’s new governor, Andrew Cuomo, who used to be New York’s top “sheriff” when he was New York’s Attorney General, still wants to be the top financial fraud fighter in the state.
 
A below-the-fold page one article in today’s print edition of The New York Times, Cuomo’s Move to Fight Fraud Sets Up Potential Clash, reports that Cuomo is seeking to expand his powers to fight financial fraud. In particular, the article, by Nicholas Confessore, says that Cuomo’s proposed budget “would grant the executive branch sweeping new powers to investigate Wall Street banks, hedge funds and insurance companies, alarming some industry officials and raising the prospect of a major clash with his successor as attorney general, Eric T. Schneiderman, and local prosecutors over high-profile securities and investment cases.”
 
It remains to be seen whether Cuomo will succeed in this attempt to consolidate power to fight financial fraud in the world's financial capital.
 
But what is clear – what is absolutely clear – is that financial fraud prosecutions are going to be with us for quite a while.