MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 30, 2011 Stevens Defends Money Funds From the WSJ Money market fundsters may want to take a look at this morning's Wall Street Journal. ICI president and CEO Paul Schott Stevens penned a letter to the editor in the paper in response to the Journal's "Money-Market Mayhem" editorial on Monday. The mutual fund trade group chief attacked the Journal for spreading "the myth that the money-market-fund industry and regulators have failed to address the risks revealed by the financial crisis" and wrote that the editorial "vastly overstates the risks to U.S. money-market funds in the Greek debt crisis." The Journal and others are worried about prime money market mutual funds' exposure to European banks, banks who are in turn exposed to private and sovereign Greek debt. Printed from: MFWire.com/story.asp?s=37209 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |