Even so, the degree of risk in any money fund is very small.
There is often little to distinguish one money fund from another.
Those "hard money" funds can be given directly to candidates.
There's a reason they don't put 25-year-olds in charge of large money funds, as a general rule.
Still, money funds are returning less than the inflation rate, about 3 percent for the last 12 months.
I am a capitalist myself and own shares in a money fund.
This was only the second failure in the then 23-year history of money funds and there were no further failures for 14 years.
It is possible that this money funds other criminal structures.
The insurance would cover only $100 million of the $80 billion that Fidelity investors keep in its 23 money funds.
Against such modest competition, money funds have proved more popular than ever.