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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (148284)9/20/2008 4:06:09 PM
From: orkriousRead Replies (1) of 306849
 
He could have done the MM piece without RTC2. That would have certainly been my preference.


My preference would be that they do neither.

Money market funds were never guaranteed to be safe. People chose money market funds instead of banks because they received a higher yield. That doesn't come without a price.

If people lost money in a money market fund they'd choose more carefully next time, and it would teach the MM fund administrators to be more careful.

Now we're going to have people leaving banks in droves because they get a higher yield with gov't guaranteed safety.

Concurrently it fosters moral hazard.
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