Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Fascinating interplay of the new balance of power. A new way to apply some heat to a reluctant/recalcitrant regulator. The mutual fund industry bought off (via strong lobbying effort) the SEC, but there may now be a second act.
"Mutual fund industry officials, who have been offering their own proposals, immediately expressed disapproval of the action. “It’s deeply disappointing that the council has proceeded without giving due weight to the views of fund sponsors, investors and the issuers who depend upon money market funds for vital financing,” said F. William McNabb III, chief executive of Vanguard and head of an industry money market funds group. "
I'm positive that a guy named F. William McNabb III would hold the interests of the average taxpayer (aka: the United States of America) paramount. It's just a shame to deeply disappoint a guy like that.
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"Mutual fund industry officials, who have been offering their own proposals, immediately expressed disapproval of the action. “It’s deeply disappointing that the council has proceeded without giving due weight to the views of fund sponsors, investors and the issuers who depend upon money market funds for vital financing,” said F. William McNabb III, chief executive of Vanguard and head of an industry money market funds group. "
I'm positive that a guy named F. William McNabb III would hold the interests of the average taxpayer (aka: the United States of America) paramount. It's just a shame to deeply disappoint a guy like that.