January 11, 2006

Vanguard, Again?

Feingold's questioning of Alito just now was extremely misleading. He started with an analogy to a judge owning IBM stock and the need for a judge to recuse himself, and then he applied it to the Vanguard case. I wish that people would make it clear that holding stock in a company and holding a mutual fund issued by a company that issues mutual funds are two completely different issues. I am sure that Vanguard does not have its own stock in the mutual fund. It makes you wonder whether these Senators even know what a mutual fund is. (Of course they do, but that only makes all this even worse.)

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