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for your troubles, Bruce. I received your package, but was still unable to read it. I suspect the pdf is embedded with some font Fortunately, I've read the draft bill at publicmarkup.org.

Do you have any comment on Sec. 10, Maintaining Insurance Parity?

(c) MONEY MARKET FUND AUTHORITY.
1. IN GENERAL. The Secretary is authorized to establish an insurance or guarantee program for money market mutual funds in connection with the program authorized by this Act.
[...]
(d) LIMITATION ON INSURED AMOUNTS.
1.DEPOSIT INSURANCE MODEL. Any action by the Secretary or a program to provide guarantees or insurance to the money market mutual fund industry shall not provide insurance in excess of the amount of insurance provided to any depositor under the Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.).

2. PREMIUMS.In exchange for providing such a guarantee or insurance, the Secretary shall charge premiums to those money market funds which receive the insurance. The rate charged by the Secretary shall be equivalent to the rate charged by the Corporation to deposit insurance providers, respectively, for such insurance.

12 USC 16 table of contents; more pertinent 12 USC 1821 for purposes of modeling this new agency.

At the moment, I'm having extreme difficulty imagining how firms' premiums alone will fund such a trust fund, among other marketing and prudential conflicts with the Fannies.

Diversity is the key to economic and political evolution.

by Cat on Sat Sep 27th, 2008 at 12:32:40 PM EST
insert T-bills circulating worldwide

Diversity is the key to economic and political evolution.
by Cat on Sat Sep 27th, 2008 at 12:41:16 PM EST
[ Parent ]
... the broader default font family correctly identified would mess up the display ... and failing to correctly identify the font family is more likely if the .pdf is generated on the fly, especially if the proprietary font in question is distributed with Adobe products and they only tested with Adobe Reader/Acrobat.

If xpdf knew about that specific font and had an alias already defined, that's why I would not have realized there was a glitch.

Since the Money Market is mostly short term unsecured commercial paper, whether or not a Mutual Fund Depository scheme is going to fall over immediately is going to depend on corporate bankruptcy rates. I have no idea how messed up the Money Markets are ... outside the finance sector, a lot of corporate bankruptcies are going to depend on the Christmas season, and I don't know that we are going to have a very jolly Christmas in the retail and distribution sectors.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Sep 27th, 2008 at 02:55:29 PM EST
[ Parent ]
... unsecured corporate commercial paper ...

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Sat Sep 27th, 2008 at 02:57:31 PM EST
[ Parent ]

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