You thought Money Markets were safe?

[Scanner]

Stocks Slide on Credit, Consumer Worries: Financial News - Yahoo! Finance

At least my silver is worth something

[Ima saver]

I just heard about that. Well, I have had one for many years and never lost a penny. Of course I stay with the BIG mutual funds.

[humandraydel]

Are you referring to the quote "On Tuesday, the European Central Bank injected another $10.5 billion into money markets and said conditions were normalizing after several days of volatility."?

In this situation they are not referring to Money Market Accounts or Money Market Funds. They are talking about the broad banking systems.

In this situation they are not referring to Money Market Accounts or Money Market Funds. They are talking about the broad banking systems.

Actually Scanner is right. They are talking about money market funds: LINK

I'll stick with my FDIC insured accounts for short-term savings.

[txex86]

I'll stick with my FDIC insured accounts for short-term savings.

I agree.

Regulators denied Sentinel's request to halt redemptions. Link

"We are concerned that we cannot meet any significant redemption requests without selling securities at deep discounts to their fair value and therefore causing unnecessary losses to our clients," Sentinel said in an Aug. 13 letter to clients.

Ouch.

[humandraydel]

Well I stand corrected!! If Sentinel doesn't suck up the losses this could be the first time a MM has ever lost money for clients (I think).

[kv968]

Well I stand corrected!! If Sentinel doesn't suck up the losses this could be the first time a MM has ever lost money for clients (I think).

Sentinel isn't a MM, it provides advisory and investment services to institutional and corporate clients. The only way MMF's would be impacted would be if they had some of their money invested with them. Although overall it's still not a pretty picture.

[DilettanteCapitalist]

Well I stand corrected!! If Sentinel doesn't suck up the losses this could be the first time a MM has ever lost money for clients (I think).

More Stories on Sentinel Mgmt. Cash-Plus Commodities Pool Meltdown. Since news broke yesterday morning that Sentinel Capital Management, a boutique Chicago advisor that ran commodities money, had halted redemptions in its comingled "enhanced-cash" pool, there has been a press feeding frenzy. (CNBC erroneously reported that Sentinel was a money market fund; it is not a money market pool nor a fund.)

[Ima saver]

I only keep a little bit of money in a mutual fund money market. Most of my cash is sitting in local banks with fdic insurance.