Some things in life are quite simple. Like the childhood analogy that illustrates deductive reasoning, “if it walks like a duck and quacks like a duck, it must be a duck.” Money market mutual funds have guaranteed the value of deposits, paid interest, and allowed withdrawals through checks. Acting like deposit accounts at banks, but avoiding the regulation, and insurance used to stabilize runs on banks. A great deal if your the manager. But what acts like a bank should be a bank. Read more
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Welcome News From The SEC
SEC won’t seek to suspend mark to market | Reuters. And the SEC should not suspend the rule. For all the business group whining about mark to market, they neglect to take responsibility for adopting sound financial risk management skills. Mark to market is not the problem, its all the fancy can’t lose strategies Read more
