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
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“Left Washington, September 6, on a tour through Ohio, Kentucky, Tennessee, Georgia, and Virginia.... Absent nineteen days. Received every where heartily. The country is again one and united! I am very happy to be able to feel that the course taken has turned out so well.”
—Rutherford Birchard Hayes (1822–1893)