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lquadland10 (< 20)

Money market guarantee program expiring Yep IMHO we are being setup again.



September 18, 2009 – Comments (2) | RELATED TICKERS: SLV , AUY , BX

The government's temporary guarantee program for money market funds is set to expire on Sept. 18. There is little chance the year-old program, put in place during the height of the financial crisis, will be extended past next week.

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2 Comments – Post Your Own

#1) On September 18, 2009 at 4:18 PM, chk999 (99.96) wrote:

Why should they guarantee money market accounts?

If you want higher return, you need to take higher risk. FDIC insured accounts are safe, but don't pay much. The money market accounts invest in various short term debt and pay a higher rate. The reason for the guarantee program was the seizure of the credit markets. They are functioning again, so it isn't needed.

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#2) On September 18, 2009 at 9:01 PM, lquadland10 (< 20) wrote:

cgk they had to do that last year to keep the money in the banks because people were not covered so instead of loosing the money they were taking it out which caused the bussiness credit freeze. No money no credit.

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