In case you thought your money market fund was safe
Thu Nov 15 2007 10:23 am
by Bob Morris.
Some money market funds are wobbling or getting emergency financing to prop them up to the $1 par level. Yup, you got it. They were investing in SIVs, trying to goose the return a bit. Now the funds are leaking, well, like a sieve.
And here you probably thought money market funds were supposed to be rock-solid safe, right?
The contamination and rot spreads ever outwards from subprime.
Posted in: Credit crisis.
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