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Article: Group discusses mutual fund mess; Momentum is building for action by Congress, SEC

Article from:
Telegraph - Herald (Dubuque)
Article date:
November 15, 2003
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WASHINGTON (AP) - Investors' outrage is building over the mutual fund scandal, and many with money in implicated funds are voting with their feet: $14 billion was yanked from one big-name company after regulators filed fraud charges.

Underscoring the urgency of the situation, a special presidential advisory group met Friday to discuss the mutual fund debacle and initiatives to overhaul the way the $7 trillion fund industry operates. The group, established in response to the stock market collapse in 1987, includes Federal Reserve Chairman Alan Greenspan, Treasury Secretary John Snow and William Donaldson, chairman of the Securities and Exchange Commission.

Donaldson "is very focused on ...

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