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  • Your Legal Right To Redeem Your Money Market Account Has Been Denied - The Sequel

    07/19/2012 11:14:52 PM PDT · by Whenifhow · 19 replies
    http://www.zerohedge.com ^ | 07/19/2012 | Tyler Durden
    Two years ago, in January 2010, Zero Hedge wrote "This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied" which became one of our most read stories of the year. The reason? Perhaps something to do with an implicit attempt at capital controls by the government on one of the primary forms of cash aggregation available: $2.7 trillion in US money market funds. The proximal catalyst back then were new proposed regulations seeking to pull one of these three core pillars (these being no volatility, instantaneous liquidity, and redeemability) from the foundation of the...