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Gretchen Morgenson thinks securities exemptions are "nifty loopholes"

Gretchen Morgenson writes today about the exemption from the Securities Act of 1933 for sales to pension funds and other big institutional investors. As I do every Sunday, I explain what she artfully leaves out.



Rafael Mangual
Project Manager,
Legal Policy

Katherine Lazarski
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.