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Money Markets: How Safe Is Your Cash?
Last week investors panicked. You can’t really blame them considering the state stocks and money markets were in:
-A 158-year-old investment bank failed.
-The nation’s largest brokerage rushed into the arms of Bank of America to stave off a similar fate.
-The world’s largest insurance company was on the verge of going belly up before Uncle Sam showed up at its bedside.
-And the country’s oldest money market fund – the Reserve Primary Fund – “broke the buck,” handing back shareholders less than a dollar a share.
Apparently, investors found this last development the most unnerving of all. To paraphrase Mel Brooks: Fat-cat bankers and…
25Sep2008 | Investment U | Comments Off | Continued
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