Sunday, April 10, 2005
Yes, more on AIG - get used to it - - this is not likely to end soon.
But what is the effect of investigations like this one, on those around the company, even those who may not be involved in any illegal activity. The NYTimes presents a fascinating piece this a.m. by Timothy L. O'Brien titled, "The Oracle of Omaha's Last Riddle," that focuses on Warren Buffett. Buffett, a proponent of corporate integrity is a witness on some AIG matters. And the issue will be whether his name will become tainted merely because he is a witness. An interesting question, not really covered in the article, is how does a witness who may have no criminal culpability deal with investigations into basically the same matter by several different entities - in this case - the Justice Department, the Securities and Exchange Commission and the New York AG (Spitzer). One observation is that it will cost a lot of money - that is in attorney fees.