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Jan 6, 2023 · The 2008 financial crisis triggered a money market crisis that included the failure of the original and oldest U.S. money fund, the $62 billion Reserve Primary Fund, which broke the one dollar net asset value mark (known as breaking the buck) in September 2008.
Sep 14, 2018 · The money market, some $3.5 trillion in size, provided vital short-term financing to U.S. corporations—but now it joined banks, mortgage lenders, and insurance firms among the faithless giants...
Sep 13, 2018 · Economists have described two primary channels through which the financial crisis of a decade ago depressed economic activity: (1) a buildup in household debt in the early 2000s which, in...
Like many market participants, money market funds were hit by a global crisis that began to take hold long before September 2008. The financial crisis of 2008 was, first and foremost, a crisis in the banking system.
September 17, 2008: Investors withdrew $144 billion from U.S. money market funds, the equivalent of a bank run on money market funds, which frequently invest in commercial paper issued by corporations to fund their operations and payrolls, causing the short-term lending market to freeze.
May 17, 2024 · On Sept. 16, 2008, the Reserve Primary Fund broke the buck when its net asset value (NAV) fell below $1 per share. It was one of the first times in the history of investing that a retail money...
Dec 18, 2023 · The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing bubble. When the bubble burst, the banks were left holding trillions of dollars of worthless...
