Treasury Is Trying To Shame The SEC Into Doing Something About A Problem That Almost Brought Down The Global Economy

Yesterday, the Treasury's Financial Security Oversight Council (FSOC) tried to act on one of biggest SEC failures since the financial crisis — regulating money market funds. Back in 2008 money market funds almost brought the global economy to its knees when the Reserve Fund, the U.S.'s biggest money market fund, set off a run. The problem was that it owned $785 million in Lehman Brothers’...