Thursday, September 17, 2009

The Fed backs away slowly…

Money market guarantee program expiring

Just a little note about another Fed prop to the financial system that will be removed tomorrow. "The government's temporary guarantee program for money market funds is set to expire on Sept. 18...The program was put in place three days after the Reserve Primary Fund became the second money fund in history to break the buck, or fall below $1 per share. The day before, Lehman Bros. had filed for bankruptcy." and we all hid behind the sofa.

Posted by mountain goat @ 10:39 PM (583 views)
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