"Money-Fund Bailout Has Been Winner"
Yesterday's Wall Street Journal featured "Money-Fund Bailout Has Been Winner, which says, "At least one government bailout seems to be working -- and even boosting the coffers of the Treasury Department.... In the case of the money-fund bailout, the government could even make money. To insure money funds, the Treasury charged them 0.01% to 0.022% of their assets. It has collected $813 million in such fees, and the agency hasn't paid any claims yet. One reason for the success of the money-fund bailout is that the problems were relatively simple and contained. Money funds held high-quality and short-term assets, so the risk of guaranteeing them wasn't high for the government. It also helps that no other financial giants have followed Lehman into bankruptcy." In other news, see Schwab Bank Announces New High Yield Investor Savings Account, which has the subtitle, "APY of 2.00% Offers Clients a Competitive Rate and a Secure Alternative for Their Cash With no Minimums or Monthly Service Fees."
