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While some management-led buyouts no doubt serve both shareholders and management, there are clear perils.
Because the government-sponsored enterprises (GSEs) are congressionally chartered, "only Congress can address the inherent conflict of attempting to serve both shareholders and a public mission," said Paulson in announcing the plan.
But as a collaboration, with shared goals and running businesses that work together rather than competing for talent and customers, a functional Cook-Musk partnership might serve both companies' shareholders.
According to the Business Round Table: [1990] Corporations are chartered to serve both their shareholders and society as a whole.
To make boards better at serving shareholders, perhaps shareholders need to have more say on who serves on the board (proxy elections have not been effective at achieving this).
Ultimately, Professor Jaffee and other experts say, the most attractive solution may be to reduce the size and influence of the two companies, which would reduce the risk of future bailouts, and eliminate the conflicts posed by the dual mission of serving both the housing markets and shareholders.
But I've also seen how for-profit schools' mandate to serve both students and shareholders leads to big differences between the public and for-profit models.
This serves shareholders well, but shareholders are a fickle lot, driven to manias and panics, and they won't necessarily reward fitness even if they can define it.
But the pharmaceutical industry stands accused of serving its shareholders before society.
"We measure our success by how well we are serving our shareholders".
But micromanaging directors really won't be serving the shareholders' interests.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com