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GE money fund

laxtosnocolaxtosnoco
edited November 2007 in The Economy
This should wake some people up:

GE money fund redeeming 96 cts on dollar-Barron's

NEW YORK, Nov 14 (Reuters) - A $5 billion money market fund run by General Electric Co's (GE.N: Quote, Profile, Research) asset management unit is offering investors an option to redeem their holdings at 96 cents on the dollar, Barron's Online reported on Wednesday, becoming the latest casualty of turmoil in U.S. mortgage and credit markets.

Full article from Reuters: http://www.reuters.com/article/bondsNew ... 9920071114

Comments

  • TJ_98370TJ_98370
    .
    A relevant article methinks:

    Money Market Funds Abused
    .
  • AwaySoonerAwaySooner
    If you don't know how scary this is, this is the "Retired Money Market" part of your 401k, you think it's safe.
  • bilirubenbiliruben
    My sweep in my TD Ameritrade acct. is an uninsured MM.

    I'd been holding off and am only about 50% invested, but I think I may be safer in stocks!

    Jamming it in Google seems more conservative than leaving it at 4%.
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