Mutual funds have been the refuge of the -little guy,- giving 95 million Americans the confidence that they could play in the stock market, too. Yet a growing number are accused of betraying the promise of fair play by letting insiders make profits at the expense of small-time investors. Are new rules needed or better enforcement of old ones? Why couldn-t anyone figure out what was going on? We hear from the mutual fund industry, regulators and investment counselors about how the scams work and how much they-ve ripped off from individual stockholders.
- Making News: President Bush and Democracy in the Middle East
President Bush today delivered what the White House billed as a major speech on foreign affairs. He said the war in Iraq reflects a new American policy, which he called, -a forward strategy for freedom in the Middle East.- David Sanger, White House correspondent for the New York Times, says the President's speech was a direct challenge to Iran, Syria and Egypt.
- Reporter's Notebook: NPR Receives Largest Gift Ever
Joan Kroc, the widow of McDonald-s founder Ray Kroc, died last month in San Diego, California. Today, National Public Radio announced a bequest from Joan Kroc-s estate of $200 million, the largest monetary gift ever received by an American cultural institution. Ken Stern, vice president of NPR, has more on the extraordinary news that will benefit the 22 million listeners to National Public Radio.