For stability’s sake, reform money funds
ViewpointsAug 21, 2012
The crisis in the euro area is a reminder that threats to financial stability are never far away. While progress has been made on financial reform over the past two years, more must be done to ensure that the financial system is robust enough to absorb shocks and still provide the credit needed for economic growth and job creation. A glaring vulnerability exists with money-market mutual funds. I believe changes along the lines proposed by Mary Schapiro, the chairman of the U.S. Securities and Ex