[bryanbig]

Spitzer has no right to tell them what they are forced to charge...
HOWEVER
he has every right to enforce the law. And a good minority of mutual fund companies have broken their fiduciary duty over the past 10 years. This is illegal.

So if they come to a settlement that includes lowering fees, that's not a bad thing. Alliance didn't have to settle, they could have paid back all the fees they "earned" while they were allowing the illegal activities to go on.

Most mutual fund investors are getting gouged and don't even know it. The average Joe looks at the "expense ratio" and thinks that's what they are paying. It's only the tip of the iceberg. You wanna be for the free market, you should be for changing the laws so these guys get paid for performance rather than building assets.

[ClintonBeGone]

Spitzer has no right to tell them what they are forced to charge... HOWEVER he has every right to enforce the law. And a good minority of mutual fund companies have broken their fiduciary duty over the past 10 years. This is illegal.

The tone of the question you responded to sounds like it came from a headline reader who owns investments no more complicated than a passbook savings account.