What sort of crisis does the SEC expect CDS sponsored failures $2.7 trillion dollars of bailout funds. Interesting amount of money. The National debt of Italy or all of Greece, Portugal and Spain combined!!
U.S. Sets Money-Market Plan
SEC Aims to Stabilize $2.7 Trillion Industry; Critics Say Rules Would Cut Returns
Regulators are completing a controversial proposal to shore up the $2.7 trillion money-market fund industry, more than three years after the collapse of Lehman Brothers Holdings Inc. sparked a panic that threatened the savings of millions of investors and forced the federal government to intervene.
The Securities and Exchange Commission in the coming weeks will unveil a two-part plan to stabilize money funds, which invest in short-term debt instruments and are designed to be safe and readily accessible to investors, according to people familiar with the matter. At least three of five SEC commissioners would need to approve the proposals to submit them for public comment.