French Chairman of AXA is sadly misguided

It appears that Claude Bebear, founder of the AXA empire, has lot the plot.

He is calling for stringent transparency rules and restrictions on leverage to curb the activities of hedge funds. Most notably he wants there to be differential voting rights based on the longevity of the investment in a company i.e. long term investor gets more votes per share than recent investor.

This is crazy for several reasons, some practical and other philosophical.

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posted by John Wilson @ 9:57 AM Permanent Link newsvine reddit



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