Ah, Alpha likes the Plausible Denial defense. Well, he embraced it for Clinton, why not the fat cats? I am a bit tired with the phony legal defense. It's time to laugh at those like Alpha who want us to waste our time with it.
Fairfield Greenwich tried to sell their company. The prospective buyers wanted to know about Madoff. Getting nothing, the buyers walked out. Fairfield Greenwich have no right to use a Plausible Denial defense.
Ah yes.. there is dynamic duo for freedom and Rule of Law. Canoodle and Dummy determining for all who all are the criminals. Who all acted with criminal intent. Yet another couple of bozos that would replace the Constitution with Mob Rule. Lynch em gurls.
Note that the 3-month is at zero. Indeed, to get even 1% you have to go all the way out to a 3-year maturity. This is going to make it very hard on money market funds to offer any type of yield. Indeed, several large firms have closed their Treasury money market funds, as it costs more to operate the fund than the interest paid on the bills, notes, and bonds. And this is precisely what the Fed wants to see. Investors are going to have to start looking to other avenues to get yield. If you can't get a return on your money market, why not put it in a bank certificate of deposit? You can get a federally insured CD for one year at over 3% at many institutions, and 4% if you want to tie your money up for three years. Making the competition - money market funds – less profitable is one way to recapitalize banks. -- John Mauldin
Yo folks... I just read that today, and thought I'd pass it along. Personally I don't like, nor trust banks at all. But not everybody has the same opinion and all I can say is... Mr. Mauldin said that, and he's a very scholarly gentleman who has a wide array of long time trusted sources that he uses for finding information that some of us don't always see. Earning a buck is not such an easy thing to do anymore, becuase it's pretty clear that most of the people handling our dollars are not as honest as they at least used to appear to be... which is very questionable at this juncture of a world wide calamity in nearly every business that is still operating on our money or their's.