September 8, 2009
I am totally AGAINST the per share value of MMF's having floating asset values rather than keeping the constant $1.
I believe that changing the defining component of money funds in response to the highly unusual occurrence (the shares of Reserve Primary falling last fall) is "OVERKILL".
As Paul Schott Stevens of Investment Company Institute told the New York Times- "The stable value of a money funds is part and parcel of this product. If you eliminate that you have unnecessarily destroyed the product.... (MMF would) just become short term bond funds."
Please keep money funds as they are currently.
Thank you