U.S. money funds may not be players in next crisis

November 9, 2011

Money market funds have a bit part in the euro zone crunch as short-term lenders to European banks. U.S. regulators, meanwhile, want to end the fiction that they are just rebadged savings accounts. The industry won’t like that, but the global financial system could be safer.

Lehman sideshow underscores regulatory gaps

June 20, 2012

Unable to bag Dick Fuld & Co, the SEC has spent three years suing a money market fund for its exposure to the collapsed bank. But while Lehman wreaked havoc on markets, the Reserve Primary Fund made investors essentially whole. The folly is a reminder of the watchdog’s flaws.