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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (80838)5/18/2000 2:45:00 AM
From: S. maltophilia  Read Replies (1) of 132070
 
MB-
Any thoughts about the credit quality of money market funds? Is there any good info online, analogous to SEC filings on the individual credits within a fund? Who the hell are all these asset securitization and credit card receivable outfits and why are they given top ratings by the various rating agencies?

For instance, the MMF I was using until earlier this week included (picked at random to do a search on) Windmill Funding. This is the only substantial mention I could find:

Structured Finance - Products - Asset Securitisation

ABN AMRO is a leading global provider of structured asset
securitisation products, allowing our clients to exploit off-balance
sheet financing opportunities.

Our expertise allows clients to de-leverage their balance sheet,
gain alternative funding, and access commercial paper markets in
the US and in Europe while remaining anonymous and avoiding
the scrutiny of rating agencies.


Our proprietary asset-backed commercial paper conduits,
including our Tulip and Windmill programs, are structured to
provide investors with debt protection and enable them to enjoy
the highest ratings from Standard & Poor?s and Moody?s. Clients
benefit from competitive funding rates and access to a broad
investor base.
ib.abnamro.com

I switched to a treasury only fund. No point losing sleep over 70 bp.
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