MarketWatch Features Latest in Wave of 'Money Funds Are Safe' Articles. In apparent
penance for the initial wave of negative press, money funds are now the subject of a series of glowing, nothing-to-worry about articles. The latest is
MarketWatch columnist Chuck Jaffe's "Safe passage: Any concerns about money-market funds are overblown". Jaffe quotes
Pete Crane, "
[B]y the time you figure out if that [securities raising concerns] is something your fund was holding, that paper is gone; the funds change their allocations every day. They [
money funds] don'
t sell anything;
they just stop buying anything that's bad news so that, pretty soon, the fund has moved away from whatever paper it had that might have been considered dangerous." Additional
recent articles vouching for the absolute safety of money funds include:
CNNMoney,
USA Today,
MSNBC, and
Reuters. See also
CNBC and
Bloomberg.