Archive for May 7th, 2008

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Recession? Or just a slowdown? Some will tell you it doesn't much matter - that it's a distinction without a difference. Nothing could be further from the truth - or as dangerous a delusion.

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Money market mutual funds are known for being both liquid and solid. Liquid because you can get your money out of them at any time; solid because they maintain a steady value of $1 per share. And they're popular because they tend to pay slightly higher rates than Treasury bills or bank savings accounts. Individuals and institutions alike use them to park cash they are waiting to deploy and to ride out market storms. Amid the turmoil of the past year, assets have soared 45%, to $3.5 trillion. But with the credit crunch casting doubt on many formerly safe-seeming securities, the big question for many investors has become, Is my money fund safe?

Retail gasoline prices rebounded after falling for five straight days, auto group AAA's Web site showed Wednesday.

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The House on Wednesday will begin debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed.