Academics are a quiet bunch. They don’t make waves too often. They stay in their towers. They do their research. Once in a while they descend into nit-picking among themselves.
What they don’t do is declare war. But that is exactly what Yale Law School professor Ian Ayres did last month when he sent out 6,000 letters to 401(k) plan sponsors threatening to name companies with high-cost plans. Plan sponsors were outraged. Industry figures opined that the professor had overstepped the boundaries of polite behavior. They didn’t like his threatening tone.
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