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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.
By Michael M. Grynbaum / The Bulletin
October 22, 2008
For decades, Americans have considered money market mutual funds as safe as bank accounts. On Tuesday, the Federal Reserve pledged $540 billion to make sure they really are.
In another bold gambit to restore confidence in the financial system, the Fed announced that it would provide a backstop....
