Friday, February 13, 2009

Chanos Saw Nonpublic Fairfax Research, E-Mails Show

Jim Chanos, a major hedge fund operator, along with Steven Cohen of SAC Capital, another huge hedge guy, shorted the stock of Fairfax Financial Holdings, Ltd on inside information according to court documents reveal.

Now, under Treasury Secretary Geithner's Financial Stability Plan, these guys may very well end up to own large amounts of the nation's bank assets with guarantees from the Gov't (taxpayers) that they won't lose money!

Read story here.

1 comment:

googleheim said...

Why not just blame some lame clerk like the French did with Socgen ?

Let's round up the clerks and interview them.

What about interviewing the snobbish econophysicists and get them to cough up what they were forced to overlook ? But they they are blind to anything that doesn't rub their egos.