Financial Accounting Blog

Wednesday, April 21, 2004

Mutual Fund Reform: This article in USA Today reports that the planned legislation to reform the mutual fund industry is in danger of dying a quiet death:
In the spring of 2002, barely months after the Enron scandal had erupted, a reform drive in Washington to curb corporate abuses already had run out of steam. Only after a second major scandal erupted on Enron's heels -- the collapse of WorldCom -- did Congress and federal regulators overcome fierce lobbying by businesses to enact new shareholder protections.