September 2008
See also: Financial crisis of 2007–2010Money market funds increasingly became important to the wholesale money market leading up to the crisis. Their purchases of asset-backed securities and large-scale funding of foreign bank's short-term US denominated debt put the funds in a pivotal position in the market place.
The week of September 15, 2008 to September 19, 2008 was very turbulent for money funds and a key part of financial markets seizing up.
Read more about this topic: Money Market Fund
Famous quotes containing the word september:
“This seems a long while ago, and yet it happened since Milton wrote his Paradise Lost. But its antiquity is not the less great for that, for we do not regulate our historical time by the English standard, nor did the English by the Roman, nor the Roman by the Greek.... From this September afternoon, and from between these now cultivated shores, those times seemed more remote than the dark ages.”
—Henry David Thoreau (1817–1862)