Thursday, October 30, 2003

My main reason for preferring John Edwards, prior to his Iraq Reconstruction meltdown this month, was my sense that he was hot to do something about institutionalized corporate corruption. Well, this issue still doesn't outweigh foreign policy for me, but Joe Lieberman has made an interesting and forceful mutual fund reform proposal that definitely raises my interest in his campaign. As I understand it, he's proposing an end to aftermarket resolution of mutual fund trades, making market timing explicitly illegal, a requirement for greater mutual fund management transparency, independent compliance officers that report directly to boards of directors instead of through mutual fund managers, and a tightening of the requirements for mutual fund board of directors with an eye towards greater independence from management.

Via the TNR Primary.

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