USA Today says "Rest easy, your money market fund is probably fine"

Sep 01 07

Yesterday's USA Today says "Rest easy, your money market fund is probably fine". Columnist Matt Krantz answers a reader's question: "My money market fund can invest up to 20% of its assets in asset-backed securities. Can it buy these bad subprime loans, too?" There were "unfounded fears that the credit crunch was starting to hurt money market funds," he says. "Don't lose sleep. As long as the funds are doing what they're required by law to do, investing in widely diversified baskets of short-term securities, you shouldn't have anything to worry about".

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