To some observers, the whole value of the Dodd-Frank financial law will be measured by how regulators resolve the mess over money-market funds.
To recap: A slew of top regulators including Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner have said money-market funds, which weren’t addressed in Dodd-Frank, are a threat to financial stability. Securities and Exchange Commission Chairman Mary Schapiro, who also supported new rules for money funds, called off a vote on a proposal because she didn’t have enough support among her fellow commissioners.
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To recap: A slew of top regulators including Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner have said money-market funds, which weren’t addressed in Dodd-Frank, are a threat to financial stability. Securities and Exchange Commission Chairman Mary Schapiro, who also supported new rules for money funds, called off a vote on a proposal because she didn’t have enough support among her fellow commissioners.
http://blogs.wsj.com/economics/2012/09/04/money-funds-test-effectiveness-of-dodd-frank/?mod=mw_streaming_stream