"Money fund father blasts how many are now run"
"Money fund father blasts how many are now run" says Reuters. Reserve founder and money fund creator Bruce Bent tells Reuters that many of today's money fund managers are not cash managers. They "imposed the psychology of managing stocks and bonds on money funds and they are wrong," quotes the article, which also discusses funds breaking the $3 trillion level and the handful of recent bailouts. Bent does not see anyone "breaking the buck, saying, "My bet is they are not going to lose a penny on it. Because there's nothing wrong with the underlying credit. It's just a temporary market aberration." See also, Baltimore Sun's "Money fund checkup is easy" and bizjournals.com's "U.S. Bancorp pledges to back troubled money-market fund".
