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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (181280)	2/2/2009 7:40:11 PM
From: James Hutton	Respond to of 306849

"Bullard said he'd also like to see a government-backed insurance program for money-market funds paid for by the industry that will backstop a fund if its value fell below $1 a share. But, he added, there should be conditions to ensure moral hazard -- for instance, if the fund broke the buck because it contravened Rule 2a-7, the government could reclaim its money." How about adding, "for instance, if the fund broke the buck because it contravened Rule 2a-7, the government could prosecute the fund manager and its directors, with criminal penalties including mandatory restitution and potential prison terms of up to x years per day per violation."