Mutual fund directors, and the question of whether they should be independent, have become one of the most examined aspects of the mutual fund scandal. But some even question whether fund directors, or even the entire board, are necessary entities in the first place, The Wall Street Journal reports.

Not having to pay a director’s salaries would lower fees, and the boards themselves do not act as the watchdogs they’re supposed to act as, are two arguments from No-Load Fund Investor Editor Sheldon Jacobs in favor of doing away with boards altogether.

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