Like, for example, Wal-Mart might want to -they pay corporate profits tax.

比如沃尔玛,它需要上缴公司所得税

耶鲁公开课 - 金融市场课程节选

After 19--I don't know if Wal-Mart--was it around in 1960?

我记不太清,大概在1960年左右吧

耶鲁公开课 - 金融市场课程节选

Wal-Mart, after the 1960 Act of Congress, would say, hey we're a real estate investment trust, we own real estate--all these stores -but that's not what the intent of this bill was.

国会通过这部法案后,沃尔玛说我也是房地产投资信托基金,我也持有房地产,所有店铺都是房地产,但这并不是这部法案的本意

耶鲁公开课 - 金融市场课程节选

They wanted REITs to be companies that just owned real estate and Wal-Mart is primarily a retailer.

EITs应是只持有房地产的公司,而沃尔玛主要经营零售

耶鲁公开课 - 金融市场课程节选