SmartMoney asks "Is Your Cash Safe at the Banks?"

Dec 20 07

SmartMoney asks "Is Your Cash Safe at the Banks?" The article discusses bank savings, money market funds, and bond funds, and says, "Your savings or investments are most likely secure". It says of money funds, "Unlike bank accounts, money-market mutual funds don't carry FDIC insurance. In theory, this means you could lose money if the fund went under. But that's highly unlikely.... That's because money-market funds, unlike enhanced cash funds, are regulated by the strict Securities and Exchange Commission guidelines regarding the quality, maturity and diversity of their underlying investments."

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