The Third

Abstract

Speaking of the Global Financial Crisis, Rahm Emanuel said that "you never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things that you think you could not do before." WSJDigitalNetwork, Rahm Emanuel on the Opportunities of Crisis, YOUTUBE (Nov. 19, 2008), http://www.youtube.com/watch?v=_mzcbXi1Tkk. 2. While labeled differently, these two paradigms map fairly closely to the two schools of thought identified and analyzed in David Millon, Radical Shareholder Primacy, ___ ST. THOMAS L. REV. ___ (forthcoming). Millon labels the two schools "radical shareholder primacy" and the manager-protective "traditional model." Both, as he points out, ultimately are aimed at shareholder benefit, though the former is more skeptical of managerial agency, and the latter is more permissive of it. 3. The leading voice of the shareholder supremacists is probably