Treasury Secretary Timothy F. Geithner and other top regulators were
given sweeping powers after the 2008 financial crisis that would allow
them to force new rules on money market funds, a popular type of mutual
fund that has taken some of the blame for the crisis. On Wednesday
evening, the head of the S.E.C., Mary L. Schapiro, unexpectedly announced that she was calling off her agency’s long-running effort to change rules for money funds.
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