Friday, April 08, 2005

The Wall Street Journal has a story on the AIG/Berkshire investigation which contains the following:

"Mr. Buffett, in a bid to win leniency for Berkshire from prosecutors in an unrelated case, directed his outside lawyers several months ago to turn over documents describing a suspect transaction between a Berkshire unit and AIG, people familiar with the matter say".

My question: Berkshire's attorneys were merely turning over subpoenaed material to prosecutors - so on what basis was Buffett seeking to win leniency?

Is there more to this than meets the eye?