Hi Tess- On your show today, when speaking of money market mutual funds, you said something to the effect that they have always been "guaranteed." No, they have not--ever. They are considered a security, and buyers of them must receive a prospectus at the time of sale. (I know--I have been selling them since 1979.) The managers of money market funds always buy short term securities, typically maturities of 90 to 270 days. Until this year such securities have been safe, and the net asset value has always been $1.00 per share. But the sub-prime mess and credit crunch caused a run on money market funds, which caused the share price to go below the $1 mark, because managers had to liquidate securities before they matured.

I think your listeners could understand that explanation.

I enjoy your show. Thanks! Rolf Nelson