Wal-Mart, after the 1960 Act of Congress, would say, hey we're a real estate investment trust, we own real estate--all these stores -but that's not what the intent of this bill was.

国会通过这部法案后,沃尔玛说我也是房地产投资信托基金,我也持有房地产,所有店铺都是房地产,但这并不是这部法案的本意

youdao

Wal-Mart, after the 1960 Act of Congress, would say, hey we're a real estate investment trust, we own real estate--all these stores -but that's not what the intent of this bill was.

国会通过这部法案后,沃尔玛说我也是房地产投资信托基金,我也持有房地产,所有店铺都是房地产,但这并不是这部法案的本意

耶鲁公开课 - 金融市场课程节选

The financial services industry is none too happy, saying that questions asked by the DOL indicate it's leaning toward final rules that would place onerous restrictions on in-house investment advice, gutting the intent of the 2006 law.

FORBES: Magazine Article

The intent behind the Investment Company Act of 1940, which regulates mutual funds, and the Investment Advisers Act of 1940, which regulates money managers, was to provide investors with the important information they needed in order to determine whether to invest with a given manager and to judge the ongoing performance of their managers.

FORBES: Hidden Crimes; Too Many Secrets: How Money Managers Hide Illegalities From Investors (August 1, 2000)

Charles O'Reilly, at Stanford Business School, points out that this cast of mind may suit some employers at deal-oriented investment banks, for instance, or young Internet companies intent on selling out.

ECONOMIST: Overworked and overpaid: the American manager | The