Reserve Fund Still Frozen

From the New York Times, October 28:

" The crisis that hit last month at the Reserve Fund, the nation’s oldest money market fund, has frozen hundreds of thousands of customer accounts for more than six weeks — with no sure end in sight.

At least 400,000 people, and perhaps as many as a million, can’t get access to their savings, a problem that has quietly persisted in spite of widely publicized federal efforts to restore confidence in money-fund investments."

The Reserve money market fund mess seems to have been overlooked and forgotten by the Fed and the Treasury.

 

I'll give you 10 cents onthe dollar cash money right now, today.

 

You probably don't even have 10 cents in your piggy bank.