MarketWatch's Chuck Jaffe writes "Fixing money-market funds before the next crisis". It says, "How you feel about the potential loss of a few pennies is different from how you might feel about the loss of a few billion pennies. Somewhere between those extremes is the reality of money-market fund reform, and the way you feel about the proposals put forth this week by the Securities and Exchange Commission depends on which pile of pennies you choose to focus on. As an individual investor, the whole thing is a matter of pennies on an investment that currently is struggling to generate much in returns. As a taxpayer, however, it's about the billions of dollars you don't want to see the U.S. Treasury laying out the next time investors worry about suffering a loss of pennies in their money funds. To see why, let's review the situation, the proposals and what it all really means."
