Your response makes it clear that you have never worked in finance/consulting or gone to business school. The situation on the business side mirrors the situation on the law side; academic specialty doesn't matter at the top. It doesn't matter that Vermont Law School has the #1 ranked environmental studies program; the fact that Columbia Law School is #2 is corporate law wouldn't cause admitted students to choose it over Stanford/Yale.
The most important criteria for prospective students in selecting business schools is employment. Most of the MBA students everywhere want the same thing - good jobs, and good jobs are fairly uniformly defined at the top business schools to include private equity, venture capital, investment banking, management consulting, start-up, and corporate management. The above rankings represents opportunities schools provide for their students. Private equity and venture capital firms focus mainly on Stanford, HBS, and Wharton. The Bulge Bracket banks and consulting firms recruit heavily from Chicago/MIT/Kellogg/Tuck/Columbia. The fact that Kellogg is an academic powerhouse in the area of management doesn't give its student much edge in consulting. Despite Booth's prowess in finance, PE and VC firms still prefer Stanford and Harvard grads. The fact that Columbia is known for value investing isn't going to be the overwhelming factor that gets its grads into PIMCO, for PIMCO still prefers Harvard grads. Tuck's location is more than compensated for by the loyalty of its alumni. Therefore, the specialization that you think sets business schools apart doesn't really affect the most important consideration when choosing a business school - employment.
Right, well maybe the fact that I'm a fucking JD/MBA at a top program will make it clear that I have gone to business school. Maybe the fact that I'm working at a major bank this summer will make it clear that I know something about finance recruiting too. Maybe the fact that I started, ran, and successfully sold a company while you were completing your undergraduate thesis in gender and sexuality studies and filling out law school applications at the same time should clue you in that I know a little bit more about a lot of shit than you do.
You truly are an idiot if you think that specialty doesn't matter in business school. No one who wants finance would pick Kellogg over Columbia. Of course Kellogg doesn't have an edge in consulting, and I don't know where you ever got the idea that anyone thinks that they do. They do have an edge in marketing, however, because that's what they specialize in and it's why people go there. They have strong networks of current students and alumni for people who are interested in doing that kind of work, while places like Wharton, Chicago, and Columbia basically ignore marketing. Academic specialty absolutely matters, because like minded people go to the same places and pursue the career paths that people from those places traditionally pursue, and it creates a feedback loop for recruiting. Yes, Harvard and Stanford have strong networks in many things, and that's why those two tend to stand out. There are very major differences among the others, however, and those differences matter. I know because I researched them heavily and thought about them carefully when I was applying to top business schools.
You're talking out of your ass, and Tuck sucks.