Bankster Plot to Kill Off the Money Market Mutual Fund Industry

Robert Wenzel
Economic Policy Journal

Both the SEC and the President’s Working Group on Financial Markets (the Plunge Protection Team) are considering whether Money Market Funds should be forced away from their stable $1.00 value method of maintaining money market share prices. A move by regulators forcing money market funds away from the maintenance of the $1.00 price would cause huge hiccups in the  industry and perhaps result in the end of the industry. At a minimum, it would cause huge withdrawals.

That regulators are suddenly focusing on these funds and at the core element of their appeal is curious. Are the insider banks behind the idea in the hope that the money will flow to them? Does the government expect more of the money to flow into Treasury Bills (then already does0? Whatever is behind this focus, there is no legitimate reason behind an attempt at such a regulation.

At Crane’s Money Fund Symposium, Paul Schott Stevens, President and CEO of the Investment Company Institute spoke about the problems that a move away from $1.00 pricing would mean:

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