In case you thought your money market fund was safe

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.