Money-market mutual funds should be regulated, Volcker says

08/25/2009 | Bloomberg

Paul Volcker, an economic adviser to President Barack Obama and a former chairman of the Federal Reserve, raised concerns about money-market mutual funds and their effect on the broader financial system. "Banks remain the functioning heart of the financial system, and they are protected and regulated," Volcker said. "To the extent they have competitors that have different ground rules, kind of free-riders in my view, weakens the financial system."

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