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Money Market fund halts withdrawalsUser Forum Topic
Submitted by bsrsharma on August 14, 2007 - 9:56am
Sentinel Money Market fund has halted withdrawals to prevent a run. These funds are not FDIC insured. Hence, investors have no recourse. If more Money Market funds experience liquidity crunch, that is going to cause quite a panic among Joe 6 Pack crowd compared to the Hedgies drying up. FDIC may be the sweetest sound of liquidity now.
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I think that if you are in Tax free Muni's you should be OK,
Anyone know more ???
I have a money market at The Reserve. Anyone know how safe this is?
My understanding is that Sentinel is a money market fund for "the big boys," e.g. commodities traders and funds, and not for Joe Zinfandel.
I doubt the Fed would let even a small consumer money market fund go under, let alone an operation like Fidelity. But I could be wrong. Or it could simply be out of their hands.
jesus, money markets are supposed to be the safest bet...
so where to park your 401k then?
...a money market fund for "the big boys," e.g. commodities traders and funds, and not for Joe Zinfandel.
Joe Z.
LOLROTFSTC!
I think that if you are in Tax free Muni's you should be OK, Anyone know more ???
As long as the municipalities paying the interest are solvent, yes.
Exactly, Diego. Anyone want to loan money to Orange County? Great rates!
Check out the platinum account at Wamu, or even at USAA they have a high yield checking acct. These both pay 5-5.25% right now. I don't see USAA going under anytime soon.
Check out the platinum account at Wamu, or even at USAA ... I don't see USAA going under anytime soon.
As opposed to WaMu?
at USAA they have a high yield checking acct. These both pay 5-5.25% right now
USAA (= United Services Automobile Association) investments may not be FDIC protected.
FYI, the limit is $100k per person on the account, at least on mine. My credit union account has my wife as a co, so I get $200k limit on that. Makes spreading easier by half.
-one muggle
USAA (= United Services Automobile Association) investments may not be FDIC protected.
The USAA Savings Bank accounts are FDIC protected.
That is the million dollar question for anyone with a 401k! Vanguard 401k money market not FDIC Insured!
So, people think WaMu is a safe place for CD's?
Additional comments anyone?
HiggyBaby
WaMu is a safe place for CD's?
If it is less than 100K, sleep well. If WaMu implodes, you have bigger problems than getting a check from FDIC.
AmTrustDirect is FDIC insured (not sure what the limit is) and their current APYs are 5.36% on a e-Money Market account and 5.41% on a 12-month CD.
It is a safe bet, and since they operate on-line only you get some of the best Money Market rates out there.