The Great Debate

The dark side of shareholder activism

April 12, 2013

Shareholder activism sounds so respectable, even noble. The phrase conjures images of good-corporate-governance folk fighting greedy or dysfunctional management in the company’s best interest. While shareholders can be disciplinarians who right the wrongs of abusive directors, many boardroom activists advance some of the most destructive short-term thinking in business today.

Toxic asset profits, public liability

October 26, 2010

Hedge funds sponsored by the U.S. Treasury are reporting eye-popping returns, but the costs to taxpayers and households could end up being massive.

Carried interest and the big lie

June 1, 2010

As an investment strategy, making private equity and hedge fund managers rich is a probable loser. As a tax policy, it is a guaranteed one.

from Commentaries:

Obama loves hedge funds

June 17, 2009

Matthew GoldsteinThe big winner in the Obama administration's financial regulatory reform package is the beaten-up hedge fund industry.

from The Great Debate UK:

The EU and Hedge Funds: silencing the dog that didn’t bark

June 12, 2009

Laurence Copeland

- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of "Verdict on the Crash" published by the Institute of Economic Affairs. The opinions expressed are his own. -

from DealZone:

Pay-to-play funds scandal: Time for a change

April 17, 2009

primackDan Primack is the editor of peHUB, a Thomson Reuters publication.

The New York State Pension Fund kickback scandal is making new headlines. The Wall Street Journal reported that Steven Rattner, the head of the Obama administratino's auto task force, was one of the executives involved with payments that are under scrutiny, citing a person familiar with the matter.

Beware Goldman’s “dutiful” TARP repayment

April 15, 2009

(Republished to clarify time period of data in fifth paragraph)

Trading specialists work on the floor of the New York Stock Exchange trading shares of Goldman Sachs, in New York, April 14, 2009. REUTERS/Chip East Patriotism, as Dr Johnson once observed, is the last refuge of a scoundrel. So when you hear words like “duty” drip from the lips of a senior executive at Goldman Sachs, you instinctively count the spoons.

New rules won’t end London’s golden lure

March 20, 2009

– Alexander Smith is a Reuters columnist. The opinions expressed are his own –