Janet L. Yellen — Enhancing Fed Credibility

David A. Wise — Financing Retirement: The Private Sector

Katherine Baicker — Improving Incentives in Health Care Spending

Kajal Lahiri and J. George Wang — Subjective Probability Forecasts for Recessions

Franklin A. Michello and William F. Ford — The Unemployment Effects of Proposed Changes in Social Security’s “Normal Retirement Age”

John Bogle — Whose Capital is It? Putting Owners Back in Control

Bruce Kratofil — BJK Research LLC

Robert P. Parker — Employment Dynamics: BLS and Census Bureau Use Administrative Records to Provide New Data

Michael A. Deneen and Andrew C. Gross — The U.S. Market for Power Lawn and Garden Equipment

Book Reviews

Gerald L. Musgrave -- John Bogle’s Views on Executive Compensation

Forum on Emerging Issues

Whose Capital is It? Putting Owners Back in Control

John Bogle founded the Vanguard Group in 1974 and is currently the President of the Bogle Financial Markets Research Center in Malvern, Pennsylvania. The Vanguard Group is one of the two largest mutual fund organizations in the world, comprising more than 100 mutual funds with current assets totaling about $950 billion. He was named by Time magazine in 2004 as one of the world’s 100 most powerful and influential people. In 1999, Fortune magazine designated him as one of the investment industry’s four giants of the 20th century and he is also a recipient of the Woodrow Wilson Award from Princeton University for Distinguished Achievement in the Nation’s Service.

This paper looks at nine instances of corporate governance problems, from the corporate sector, investment sector, and mutual fund sector.

This paper is based on a NABE Financial Roundtable teleconference presentation delivered on January 24, 2006.

Read the article (PDF, 77 K)