Crane Data Subscribers
Ex-SEC Director: Should've Let Money Funds "Break the Buck" in '80's reports ignites.com. Former SEC Division of Investment Management Director and current Willkie Farr & Gallagher Partner Joel Goldberg said at last week's "Practising Law Institute Investment Management" conference that if he could change one decision of his at the SEC, it would have been to "let a fund or two break the buck" in the early 1980's instead of having advisors protect the funds. Goldberg believes the preoccupation with the $1.00 a share has commoditized money funds and removed flexibility to seek yield, recounted ignites. He clarified for Crane Data, "I was talking about back then. We can't go back.... Rule 2a-7 is a good rule."
