http://www.bloomberg.com/apps/news?pid=20601087&sid=aT9jrBKB7HzA&refer=home
Legg Mason Inc. said costs to bail out a money-market fund will cut profit by $195 million, or $1.38 a share, in the three months ending March 31.
So far the money market fund industry is willing to take the losses rather than break the buck on their money market funds. They are not required by law to do so. I am more comfortable not having any cash in money market funds and relying on somebody's "goodwill" to keep my dollar a dollar. At some point the economic equation could change and you are taking losses in something "safe."
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