Beware: Prospectuses of the country’s largest money market funds indicated that my $1.00 wasn’t guaranteed and that capital controls, when or if I get my money back, is entirely at their discretion.
Anybody need still another argument for reviving the old Glass-Steagall Act (1933-99), with its salutary separation between commercial and investment banking? If so, JPMorgan Chase has just provided one. A big one.
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