…based on this story of a $12B money market fund (Putnam Prime Money Market Fund) closing up. As the Washington Post says,
“The Putnam action is likely to increase concern among investors about the safety of investments in money-market funds, traditionally viewed as basically comparable to bank accounts. Investors pulled an estimated $80 billion from money-market funds yesterday, according to Crane Data, which tracks the industry.”
People in risker investments expect and are told to expert downturns. People with money market funds do not. As well, if money market funds are in taking a hit, no type of investment is safe.
More here.
Smart People I Know 
Well, all my money (about $100 in total or now about 10,000 yen) is stored under my mattress so I feel so safe (^_^)
It certainly has been a wild week in the stock markets – hope you don’t have a weak heart. The Dow closed over 400 points on Thursday after big losses earlier in the week, and all the Asian markets are significantly up on Friday.
Are we having fun yet?