The Wall Street Journal writes "Savers Feel Pinch Of Tight Credit" about banks cutting rates (mentions money funds). It says, "Another alternative for savers are money-market mutual funds. Yields are currently averaging 2.74% for the 100 largest funds, but are expected to drop to about 2.5% by mid-April, according to Peter Crane of Crane Data LLC. Although the securities aren't insured by the FDIC, no retail investor has ever lost money in a money-market fund, he says."

Also today: FT "Worried hedge funds move cash", BusinessWeek "From the Mail Bag: How Safe is Your Cash?", Bloomberg "Legg Mason Profit Cut by Pact to Support Money Fund", and WSJ: "Legg Mason to Cover Some Fund Losses".

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