Rational Speculation

I was reading John Spence’s post on MarketWatch.com about the recent announcement of CEO changes occurring at The Vanguard Group, and just had to comment on it.

In that post, John writes:

BOSTON (MarketWatch) — Vanguard Group has a unique ownership structure that allows the investment giant to provide mutual-funds at a low cost. But with a new chief executive coming on board, questions are being raised about whether Vanguard will continue as a firm that’s mutually held by its fund shareholders (my emphasis).

What crazy people in the investment world would be raising such questions?

Were they there to raise questions or concerns when the investment bankers, mortgage brokers, debt barons, insurers, and even the government lied to us about all of things that led to this ongoing credit crisis?

Are they now raising questions about the splitting-up of the monoline insurers, the possible near-term failure of the PBGC, or the government bailout of the corporations that caused all of these problems to begin with?

So with all of these crises happening now, who in their right minds would be raising such idiotic questions about The Vanguard Group, the world’s most trusted and individual-investor friendly investment company?

Get real. Of course it’s going to remain mutually-held.