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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BSGrinder who wrote (88716)	1/22/2001 10:38:38 AM
From: Knighty Tin	Respond to of 132070

Kit, Yeah. I don't think Xerox had a AAA rating and I know the Calif. utilities didn't. Also, even after all the bad news, if you owned short term paper issued by these folks, you would be out of it and into better credits by now. They haven't defaulted. The other point is that the typical money fund holds about 200 issues. Even if one does default, it is not that big a deal to the yield and a non-event to the principal. However, I need a much higher yield advantage over govt. and Treasury funds that hold the collateral on repos, and right now we don't have that. Folks are almost treating the AAA prime funds like Treasury moneys, and they aren't, so I'll go with the gov unless I am paid to change.