"Banks' Safety Net for Lenders May Have Holes in It" Says NYTimes

Oct 17 07

"Banks' Safety Net for Lenders May Have Holes in It" writes The New York Times. The article paraphrases Federated's Debbie Cunningham, saying, that "most [SIVs] invested in much healthier bonds that have been tarnished in a rush to judgment. Some problems were brought on, she said, by SIV operators' not fully disclosing their holdings." The Times adds, "Ms. Cunningham said the group that created the fund, which is known as the Master Liquidity Enhancement Conduit, is hoping that the fund's mere creation will provide some comfort to investors."

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