World of mutual funds: Can the latest entrants change the game?

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Northern Rock, the British bank, was witnessing a debilitating run on its deposits. Soon after, Carlyle Group was getting margin calls on its mortgage bond fund, while Bear Stearns, the global investment behemoth, booked a mammoth pile of bad loans that sent shivers in capital markets the world over. Doomsday conspiracies ran rife in early 2008, but the pundits in pinstripes eventually called it a global financial crisis. Thousands of

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