One of those boring financial topics is in the news again: money markets. If your clients’ eyes glaze over at the mere mention of money markets, you may have to remind them that their day in the sun now is due to the dark days in late 2008 when these musty, safe investments were suddenly viewed as risky. Or, if this resonates more with them, back when they frantically called you every hour on the hour and left profane messages.
Last week, the President’s Working Group on Financial Markets issued a report outlining several options to make this $2.8 trillion market safer. (For comparison, if that much money constituted the output of a country, it would be the fifth-biggest economy in the world.)
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