The MM crises was real and would have had profound effects.
I find it curious that only one of many Reserve MM funds “Broke the Buck”.
Do you think they rolled ALL of there Lehman holdings into one fund ?
Losing 1 percent on cash is a really big deal.
I'm curious as to how much cross investment in money markets is really going on.
If there is any uncertainty in these investments among the Banks and their counter parties, we should see it in the TED Spread.
Best of luck
I know of a certain MM fund that hasn’t earned a penny of interest since October 2009, I guess that’s because of the Lehman failure.