Money Market Reform Options

The events of September 2008... proved that runs on MMFs not only harm fund shareholders, but may also... ultimately result in a decline in economic activity." --President's Working Group on Financial Markets, 2010

The September 2008 run on money market funds ("MMFs"), during the financial crisis underscored the vulnerability of the financial system to systemic risk. Upon the Treasury Department's request, the President's Working Group on Financial Markets prepared the report, Money Market Reform Options (2010), explaining the concept of MMFs and addressing the systemic risks of MMF runs.

Students of financial history, journalists, politicians, and anyone interested in the workings of financial markets and the Plunge Protection Team, will find this vital background reading.