The Wall Street Journal continues its odd crusade against money funds in its latest editorial, "Money Fund Make-Over". It says, "Mary Schapiro, chairman of the Securities and Exchange Commission, is about to start a fight worth having with the providers of money-market mutual funds. Specifically, she aims to prevent a taxpayer bailout the next time this $2.7 trillion market runs into trouble. Ms. Schapiro will soon ask her fellow commissioners to issue two separate rule proposals. She will then seek to enact one or the other as a final regulation. The superior alternative is a plan to clarify for money fund customers that they are investing in securities that can rise and fall, as opposed to insured bank accounts. The other proposal would require funds to hold capital in reserve and limit customer redemptions, but it would fail to resolve the central problem with money funds." In other news, the Chicago Sun Times writes "Savers on losing team in fight over money-market fund rules", saying, "Well, if you're a saver in America, you should know how that football feels. You've been passed and carried around the turf without any power to change the outcome of the game. The current fight over the future of money-market mutual funds is just the latest play. Savers have already watched their yields crunched."

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