Another comment posting to the SEC's President's Working Group Report on Money Market Fund Reform (Request for Comment) page comes from Tony Carfang, Partner, and Cathy Gregg, Partner, Treasury Strategies, Inc.. He writes, "Money Market Funds (MMFs) are important short-term cash management vehicles for our corporate consulting clients. As such, our firm has paid close attention to financial reform rulemaking and regulatory changes related to MMFs. We are concerned that MMFs are the subject of undue regulatory focus, perhaps because they have been misidentified as a proximate contributor to the financial crisis. Our analysis shows something quite different: MMFs were only tangentially involved in the crisis, and several much more significant events should be given much weightier consideration than MMFs. The attached document highlights some straightforward and important facts: Investment dollars actually started seeking higher ground in 2007...."
