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:
“Any one who knows what the worth of family affection is among the lower classes, and who has seen the array of little portraits stuck over a labourer’s fireplace ... will perhaps feel with me that in counteracting the tendencies, social and industrial, which every day are sapping the healthier family affections, the sixpenny photograph is doing more for the poor than all the philanthropists in the world.”
—Macmillan’s Magazine (London, September 1871)