Subprime hits commerical paper

Discussion in 'Happy Hour' started by hedgehog, Aug 8, 2007.

  1. hedgehog

    hedgehog Mentor

    Joined:
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    Afghanistan
    Think your money market accounts are safe? Better think again. The housing mess and defaults on mortgage backed securities are now spilling over into money market accounts. Translation: you can now "lose" money in your money market accounts. Why gold is not $1000.00 an ounce is beyond me.


    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.98m gnTI5s4
     
  2. cslewis1

    cslewis1 Guru

    Joined:
    Aug 8, 2006
    Messages:
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    Location:
    Virginia
    Bloomberg.com eh? You know who that's Mike Bloomberg's baby right? Can't stand that guy, and even if he's got nothing to do with the Bloomberg terminals etc. anymore I still don't read anything from those guys.

    But you're right. Money markets aren't as safe as they've been made to seem.
     

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