Several NYTimes articles say Fairfax Financial may be under IRS or SEC criminal investigations, brought about by information submitted during discovery of the lawsuit Fairfax brought against SAC. It seems this battle of Financial titans will be a draw, and destructive to each, as each will be defending itself against Government investigations for years to come. In addition, some executives from both companies may possibly get Federal jail time. There will be no winners in this battle, except for the Government who will get a two to four billion dollar windfall, from fines and or back taxes charged to each company. I believe in the coming months this one will have backfired on Fairfax.
Several NYTimes articles say Fairfax Financial may be under IRS or SEC criminal investigations, brought about by information submitted during discovery of the lawsuit Fairfax brought against SAC. It seems this battle of Financial titans will be a draw, and destructive to each, as each will be defending itself against Government investigations for years to come. In addition, some executives from both companies may possibly get Federal jail time. There will be no winners in this battle, except for the Government who will get a two to four billion dollar windfall, from fines and or back taxes charged to each company. I believe in the coming months this one will have backfired on Fairfax.