Quote:
Originally posted by Mmmm, Burger (C.J.)
Could someone tell me why everyone is dancing around the Vanguard issue? They've focused on whether he agreed to recuse himself, and whether he should have recused himself.
Isn't it simple:
I own vanguard mutual funds for my retirement. Vanguard, the company, is publicly traded, runs a business, which consists of a number of mutual funds. Each of those funds, however, is independently run and held by trustees whose obligation is to the owners of that fund. Likewise, each fund's financial success is determined by its investments, not by the investments in other funds or the overall success of Vanguard. Therefore, a lawsuit against the parent company could have no effect, positive or negative, on my investment in Vanguard mutual funds, as the two are financially independent.
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Because the parent company's business is making fee income from the Vanguard fund family, and this is in that family, and because no one really believes that independence stuff, anyways.
I am not taking sides, just noting that this is sufficiently complicated so that your paragraph does not end the conversation.
