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The quote "stock acquisitions that create such anticompetitive horizontal shareholdings are illegal under current antitrust law" doesn't seem to include any re
by elipsey 11y ago
The quote "stock acquisitions that create such anticompetitive horizontal shareholdings are illegal under current antitrust law" doesn't seem to include any reference that I can find to any original text written by Elhauge. Instead the footnote links to a bunch of the author's own articles about Elhauge.
The only properly cited textual evidence offered is a series of denials by Elhauge that he ever said index funds are illegal.
Levine has been writing about this for months in articles with linkbait titles like: "Should Mutual Funds Be Illegal?" (http://www.bloombergview.com/articles/2015-04-16/should-mutual-funds-be-illegal- http://www.bloombergview.com/articles/2015-04-16/should-mutu...)
and "Labor Department Wants to Tweak Your Retirement Plan" (http://www.bloombergview.com/articles/2015-04-15/labor-department-wants-to-tweak-your-retirement-plan http://www.bloombergview.com/articles/2015-04-15/labor-depar...)
It seems like Levine has an axe to grind with regulators, and doesn't want anyone to talk about research that might suggest regulation. He might be right, but he is making a crappy argument.
EDIT: Ok, I stand corrected. Elhauge totally said that. It's in the abstract. I had trouble finding it because Levine cited himself instead of the paper at the end of that that paragraph. Sorry.
- ikeboy 11y agoThat's a direct quote from the linked paper http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2632024 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2632024
- anigbrowl 11y agoMore likely he just mixed up his URLs with his anchor text. Linked from 'Elhauge claims to disagree with my interpretation': http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2632024 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2632024