From the New York Times, October 28:
" The crisis that hit last month at the Reserve Fund, the nationâs oldest money market fund, has frozen hundreds of thousands of customer accounts for more than six weeks â with no sure end in sight.
At least 400,000 people, and perhaps as many as a million, canât get access to their savings, a problem that has quietly persisted in spite of widely publicized federal efforts to restore confidence in money-fund investments."
The Reserve money market fund mess seems to have been overlooked and forgotten by the Fed and the Treasury.
" The crisis that hit last month at the Reserve Fund, the nationâs oldest money market fund, has frozen hundreds of thousands of customer accounts for more than six weeks â with no sure end in sight.
At least 400,000 people, and perhaps as many as a million, canât get access to their savings, a problem that has quietly persisted in spite of widely publicized federal efforts to restore confidence in money-fund investments."
The Reserve money market fund mess seems to have been overlooked and forgotten by the Fed and the Treasury.
