Jim: > you're talking about "wholesale" money market funds, right? if retail > money market funds start failing, that's hitting directly at Main > Street.
Yes! In other words, "institutional" money market funds. I haven't heard anything about the "retail" money market funds, although most likely we will start hearing about them soon, too. By the way, GMAC is not an "institutional" money market fund, but it is some sort of a bank too. Not only GMAC but also UBS and Sears are mentioned, because they sell commercial paper to these money market funds. Since the demand for commercial paper is low now, their short-term borrowing costs are going up. So, D' Arista was right, GMAC is in trouble. More than that the commercial paper market is in trouble. Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
