Will Obama Kill Money Market Funds?
The failure scoresheet clearly shows MMFs are safer than banks.
Presidential confidant and former Fed Chairman Paul Volcker sounds like the golfer who goes into the 18th hole 100 over par and asks his playing partner: Do you give up yet? In this case, the game is called Financial Failure. The score? Banks: 3,000+; Money Market Funds: 2.
What Mr. Volcker takes from this scoresheet is that money market funds (MMFs) should be shut down, not banks. Perhaps he thinks that in this game it's the highest score that wins.
Mercer Bullard does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.