US Economic Trend Analysis Message Board

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Strategies & Market Trends : US Economic Trend Analysis

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From: gpowell	9/19/2008 2:06:01 AM
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Looks like some long-time SI'ers don't understand the difference between a MMMF and a bank deposit. Message 24956233 One of the first and largest money market funds has put a seven-day freeze on redemptions after the net asset value of its shares fell below $1. Primary Fund a $62 billion fund managed by money market fund inventor The Reserve, said Tuesday afternoon that its $785 million holding of Lehman Brothers Holdings debt has been valued at zero. As of 4 p.m., the value of the fund's share is 97 cents. Which prompts patron and calculated risk to think a "bank run" will occur. Message 24956283 It's not clear what they are going to do. Right now it's $0.97.Once the freeze lifts, we will know (if they can't make up the loss, I expect a bank run). Message 24956269 Wow, are they gonna break the buck? Got bank run for real?

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