"Jitters seep into money funds" says LA Times

Aug 16 07

"Jitters seep into money funds" says LA Times. "Wall Street's deepening worries about who owes whom in the credit markets now are touching one of investors' most trusted places to keep cash: money market mutual funds. The $2.7-trillion money fund business was thrown on the defensive Wednesday on fears that some corporate and financial-company issuers of short-term IOUs could have trouble making good on their debts," says the paper. It adds, "Many fund-industry experts quickly advised against overreaction, noting that the rules governing money funds generally require them to stick with the highest-quality securities and to limit how much they own of any one issuer's debt."

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