Subprime hits commerical paper

[hedgehog]

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.


[url]http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.98m gnTI5s4[/url]

 

[cslewis1]

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.