you're talking about "wholesale" money market funds, right? if retail money market funds start failing, that's hitting directly at Main Street.
by the way, here's a mystery: if the financial capitalists are so politically strong, why is it that equity-holders (in Bear Stearns, AIG, etc.) don't get bailed out? On Thu, Sep 18, 2008 at 10:13 AM, Sabri Oncu <[EMAIL PROTECTED]> wrote: > Julio: > >> Sabri wrote: > >>> What I hear is that the next shoe will be money market funds! > >> Hedge funds? Tomorrow (when the new SEC short-selling rules go into effect)? > > It seems that money market funds are going down first. They call it > "significant redemption pressure" although what they really mean is > "run on banks/money market funds." Putnam in Boston closed its $15 > billion money market fund" last night but we just heard it an hour > ago. What is going on in the hedge funds arena is not out in the open > yet! The rumour is that they are buying protection thru credit default > swaps on debt and then shorting the corresponding stock to force the > issuer to default. If this is what really happening, then most likely > they are digging their own grave. Also, it appears that there is "run > on hedge funds" that is going on, too, but it is not out in the open > yet, either. I guess, hedge funds will come after the money market > funds. By the way, GMAC was also mentioned together with money market > funds. > > Best, > Sabri > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
