Money: Now Mutual Funds?

How to protect yourself in another money industry tarred by scandal

Investors still stinging from last year's run of Wall Street and CEO lies now find they can't trust mutual funds either. Turns out the $6.9 trillion fund industry might be just as willing to jilt the little guy when monster fees are on the line. This revelation is a black eye for a business that so far has been largely scandal free.

The problems came to light last week when New York attorney general Eliot Spitzer, who has made a career out of reading Wall Street's dirty email, asserted that "dozens" of "very substantial" fund companies are tolerating practices that rob...

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