Skip to comments.Bernanke says financial stability a work in progress
Posted on 04/09/2012 5:27:10 PM PDT by John W
STONE MOUNTAIN, Georgia (Reuters) - The U.S. economy has yet to fully recover from the effects of the financial crisis, and regulators must continue to find new ways to strengthen the banking system, Federal Reserve Chairman Ben Bernanke said on Monday.
"The heavy human and economic costs of the crisis underscore the importance of taking all necessary steps to avoid a repeat of the events of the past few years," Bernanke told a group of economists and finance experts at a conference sponsored by the Federal Reserve Bank of Atlanta.
(Excerpt) Read more at news.yahoo.com ...
Comforting to know we have nimrods in charge of the largest and most vibrant economic machine in the world.
Definition of ‘Money Market Fund’
An investment fund that holds the objective to earn interest for shareholders while maintaining a net asset value (NAV) of $1 per share. Mutual funds, brokerage firms and banks offer these funds. Portfolios are comprised of short-term (less than one year) securities representing high-quality, liquid debt and monetary instruments.
Now why would Bernanke think there would be a run on ‘Money Market Funds’? Less disposable income? Fewer jobs? Inflation?
I know I know!
They can ‘strengthen the banking system’ by stopping their sabotaging of the banking system.
Where is the progress?
There’s a clue here;
New regulations have since reduced the credit and maturity risks that money funds may take.
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