Good News for Joe the Plumber
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January 28, 2013 - There’s some good news on the regulatory front for the little investor. First up: Looks like the biggest players in the money market industry are backing down a bit from their ferocious opposition to proposed Securities and Exchange Commission rules designed to protect investors, Bloomberg News reports.
Why do investors in money market funds need protection, you ask? Because you can LOSE money with them. They’re touted as safe, you can write checks just like a regular checking account and some folks believe -- mistakenly -- that the accounts are insured against loss like bank checking products.