After a money market fund broke the buck, the government quickly guaranteed value of money market funds as of September 19, 2008 for three months, with a possible extension for one year.
U.S. News & World Report summarized the elements of the program in the article Money Market Guarantee Program FAQ. Here are what I thought were the key elements of the program:
While I think the guarantee program is helpful, I still think it's a good idea to continue to minimize risk for our cash equivalents. We will continue to move our money market funds to FDIC insured money market deposits for the short term.
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This is not financial advice. Please consult a professional advisor.
Copyright © 2008 Achievement Catalyst, LLC
September Income – $4560.09
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