“The implications of the ruling, according to Barnhardt, will affect the monies of all private individuals who have seen their deposit accounts wiped out in the collapse of firms like John Corzine’s MF Global and put all deposit account holders in the country at risk. A few weeks ago, the Federal Reserve also implemented a new policy for money market funds held by financial institutions. Per the new policy, money market funds, which account for some $2.7 trillion in deposits across the United States, can be frozen in the event of an emergency or financial panic.”
Related posts:
This Too Shall Pass
Analysts: Muni-Bond Selloff Looks Like Lehman All Over Again
Make Your Own 3-D Printer for $100
Feed the Homeless and the Food Police Will Bleach Your Food
Why bitcoin has a firm foothold in the online gambling world
Berkeley: What We Didn’t Know
Dick Bove: US Assault on JPMorgan Is 'Coordinated from Above'
Overstock.com CEO Unveils More Details About Bitcoin Adoption
Gold's Black Market?
Bank of England: Central Banker as Movie Star
Why the U.S. Government Will Default on Its Debt
Law enforcement uses smart meter parking apps to spy on everyone
Paralyzed man sips beer -- using robot arm he controls with his mind
Cops Taser Then Shoot Man to Death After Family Calls 911 for Help for His Depression
Cameron, While Trying to Ban Internet, Praises Lapdog Press