As I warned yesterday (SEE: ALERT: Pull Your Money From Money Markets Now!), the SEC appears ready to approve rules that will allow money market funds to limit investor withdrawals in times of market stress. WSJ reports:
[R]ules, expected to be approved at a Securities and Exchange
Commission meeting on Wednesday, are aimed at avoiding a repeat of the investor
stampede out of the $2.6 trillion industry that threatened to freeze corporate
lending during the 2008 financial crisis.