"​Money-​Market Reform Proposals Could Directly Hit Fund Investors" says Dow Jones, writing on the Group of 30 Proposals, "​Tucked into three paragraphs amid an 82-​page report was a suggestion that money-​market funds should either let their net asset values float freely or convert to '​special-​purpose banks' -- steps that fund-​industry representatives say would effectively kill money-​market funds in their current form." The article quotes ICI President Paul Schott Stevens, "If the recommendations are implemented, there will be no more money-​market funds, period." It also quotes Mercer Bullard, "Banks have lost billions of dollars and money-​market funds have proved them to be wasteful and inefficient. One IndyMac costs us more than all the money-​market fund failures in the past and future combined." See also, Financial Times' "​Money market funds in lawmakers' sights".

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