SNOW SAYS ADMINISTRATION WILL WORK TO REFORM FUND INDUSTRY: Treasury Secretary John Snow told a financial lobbying group that the Bush administration supports an overhaul of the $7.5 trillion mutual fund industry, and would work with fund companies on possible reform strategies.

Speaking recently to the Financial Services Roundtable in Scottsdale, Ariz., Snow said that the Bush administration “supports taking strong action when harm is done to investors, but believes that care must be taken to preserve the valuable benefits and flexibility that mutual funds provide.”

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