Remaking the Money Market

Of course, it was bailed out along with all the other money market funds.

It would like to see the internal capital market operate as much as possible.

The case for capital market integration, and then for a single currency, was similar.

Financial markets did well through capital market liberalization.

The eurozone provides the only large capital market other than the US for such investments.

There were similar fears recently when it became known that US based money market funds had lent heavily to European banks. And some leading US banks also rely on money market funding here, too, the shadows and the banks have aligned interests.

The sub prime crisis has diverted attention from rising fears about Sovereign Wealth Funds (SWF s) as the new bogeyman of global finance.

A large money market fund broke the buck and investment banks that relied on the commercial paper market had difficulty financing their operations.

(c) After the seventh sentence, add the following sentence

Money market funds from the United States are returning, albeit cautiously, to resume funding of European bank debt.

These six international banks alone accounted for nearly 20 of the prime money market funds value.

This shadow system includes structured investment vehicles (SIVs), conduits, money market funds, hedge funds, and investment banks.

The second lesson to be learned from the gold standard concerns the extent and limits of capital market integration.

Thus, development will continue to be the top priority, including the development of China s own financial market.

But the 2008 financial crisis showed that, when push comes to shove, the government will backstop money market funds nonetheless.

Between September 1906 and March 1907, the stock market slid, losing 7.7 of its capitalization.

If US policymakers adopt this approach, the tone of the Fed s next money market conference could be much more optimistic.

Rating agencies have been and should remain an important aspect of modern capital markets.

Such systems cannot work, because they eliminate the capital market as the economic system s main steering mechanism.

But 12 Federal Reserve Bank presidents are pushing for more progress on money market reform. The Special Inspector General for TARP, based within the Treasury, continues to express reservations about the consequences of unconditional bailouts.

Massive capital inflows caused real estate and stock market bubbles in the US and parts of Europe.

But just as in used car and insurance markets, asymmetric information in finance leads to trouble.

Delete the final sentence.

Delete the last sentence.

But the money market s size is not the only reason for its fragility. Another problem is that banks are not the only institutions managing it.

In 2012, American prime money market funds, which buy bank and corporate debt, were worth nearly 1.5 trillion.

Charles Biderman, head of TrimTabs Investment Research, which tracks money flow in the equities market, suspected that following the 2008 financial crisis that the Federal Reserve or U.S. government was supporting the stock market.

He couldn't understand the sentence.

He couldn't understand the sentence.

There is a mistake in the sentence.

This phrase is incomprehensible.

Paragraph 66, second sentence

The sentence should read

Paragraph 11, first sentence

The rejected proposals are thus good policy money market funds should be made safer via capital requirements and liquidity restrictions because they already receive a de facto government guarantee.

All money market funds then became suspect, and many investors fled withdrawing one third of a trillion dollars in a single week.

The Federal Reserve, seeking to stem the growing panic and stabilize the American and international banking system, promptly guaranteed the value of all money market funds.

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You have to memorize this sentence.

The second sentence should be deleted.

Paragraph 152, first sentence

Paragraph 152, second sentence