SEC Chief Urged to Drop U.S. Attorney Bid Amid Political Battle

The video discusses the complications arising from the Southern District of New York's involvement in Trump's efforts to appoint SEC chairman Jay Clayton to a new position. Clayton was surprised by the controversy, and his allies are advising him to reconsider. The Southern District is crucial as it covers Manhattan and the Trump Organization, leading to questions about its investigations. The situation is expected to face congressional scrutiny.

Why is the Southern District of New York considered a key district in America?

What potential actions might Clayton take in response to the situation?