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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: XBrit who wrote (27494)10/12/2000 2:23:29 PM
From: GraceZ  Read Replies (4) of 436258
 
I can easily imagine that a money market fund invested in mortgage-backed or credit-card-backed paper could fall below $1

If you can easily imagine that then you can easily imagine that a widespread failure of the major money market funds to maintain $1 share value would cause a run on these vehicles. Do you really think the public is smart enough to know the difference between a MM backed by short term commercial paper and one that is backed by treasuries? In such a panic all MM funds would be hit. Remember the S&L crisis? Even sound institutions were hit with the ensuing panic.
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