Eliot Spitzer wants to make sure the mutual fund industry’s laws get changed. So he’s going to the epicenter of where laws get changed: Washington D.C. There, the New York attorney general will take the industry’s annual $70 billion in fees to task.

"Fund directors do not – and cannot – negotiate hard on fees," Spitzer will tell Congress, according to a published transcript of Spitzer’s speech. "What else would you except when the chairman of a mutual fund is also the chairman of the advisory company?"

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