Government steps to head off run on money funds (AP)

Posted by admin on September 20, 2008 under News | Be the First to Comment

Government steps to head off run on money funds (AP)

Federal Reserve Chairman Ben Bernanke (C) speaks next to Treasury Secretary Henry Paulson (L), and House Speaker Nancy Pelosi (D-CA) after their meeting with other congressional leaders in the U.S. Capitol in Washington September 18, 2008. (Mitch Dumke/Reuters)AP – The federal government on Friday stepped in to bolster the teetering $3 trillion money-market mutual fund industry and stem a wave of withdrawals that resembled a Depression-era run on the banks

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