Treasury Extends Money-Market Guarantee
The Treasury just announced that it is extending until April 30, 2009, its guarantee on deposits in money-market funds, which was put into place on Sept. 19.
At the time, Treasury said the guarantee would be in place for three months, at which time Treasury Secretary Hank Paulson would decide if it is necessary to extend the guarantee.
Evidently, he does. So he did.
This remains an important guarantee for regular investors, most of which have some of their cash in money-market funds, which are low-risk mutual funds and considered safe havens, especially by older investors.
-- Frank Ahrens
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By
Frank Ahrens
|
November 24, 2008; 4:34 PM ET
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The Ticker
| Tags: Paulson, Treasury, money market funds
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