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It would be interesting to see what would happen today - since a fair number of
major fund families (I know Fidelity is one of them and I think Vanguard is
too) now allow their equity funds to borrow from their money market funds to
pay redemptions from the equity funds. Robyn
Robert Cummings wrote:
> That last post reminded me of that black Monday back in 87. I was then and
> still am a broker and had clients taking money out of the money market
> accounts in panic. If the Feds plan of supporting the market had failed
> where would we be today. Microsoft probably would have gone bust so no Bill
> Gates. Technology would have maybe been set back 10 years but who knows. It
> was a scary time it busted my firm and a lot of brokers quit soon after. I
> hope to never see anything like that again but I know I will, hope its much
> much later.
>
> Robert
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