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Politics : Ask Michael Burke

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To: Mike M2 who wrote (67435)	9/9/1999 3:01:00 PM
From: Knighty Tin	Read Replies (4) of 132070

Mike, It seems as though it would be totally illegal on several points. First, the legal fiction is that the money fund is a separate co. and the mutual fund co. is just the manager. Second, there are all sorts of restrictions about lending to cos. connected to the mgt. co. or the mgt. co. itself. We had that problem when Primerica bought out Smith Barney. Our money funds had regularly done repos with Smith Barney, but suddenly had to stop. If the SEC went for some crap like that, they should be taken out and shot.

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