Investment News writes "Dems join opposition to fund reform". It explains, "Democrats are joining Republicans in putting pressure on the Securities and Exchange Commission not to tighten regulations governing money market funds. In a move similar to the bipartisan opposition to a pending Labor Department regulation that would expand fiduciary-duty requirements for retirement plans, Democrats have added their voices -- and signatures -- to what initially looked like familiar Republican and industry skepticism of a regulatory proposal. Last Tuesday, 18 Republicans and 15 Democrats -- all former state and local officials -- sent a letter to SEC Chairman Mary Schapiro warning her that changes in money market funds will make raising money for infrastructure projects more difficult. When she appeared at an April 25 hearing of the House Capital Markets Subcommittee, Ms. Schapiro heard a couple of Democrats -- in addition to Republicans -- warn her to tread carefully."
