What does 2008 have in store for the mutual fund industry? Some ETFs will close and sub-prime woes will plague more funds, according to MarketWatch columnist Chuck Jaffe. In his latest column, Jaffe also predicts that prospectus reform will do no good, fund tax reform will get nowhere, and that all those '40 Act funds' subprime problems will generate class-action suits. And if Jaffe's on the money, watch for an industry oddity sometime this year: a board taking a fund away from its managers. 

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